Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) Shares Down 0.6% – Should You Sell?

Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY)’s stock price dropped 0.6% during trading on Monday . The company traded as low as $11.71 and last traded at $11.77. Approximately 3,463 shares traded hands during trading, a decline of 54% from the average daily volume of 7,511 shares. The stock had previously closed at $11.84.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Alchemy Investments Acquisition Corp 1 in a report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Alchemy Investments Acquisition Corp 1 currently has a consensus rating of “Sell”.

Alchemy Investments Acquisition Corp 1 Price Performance

The company has a 50 day moving average price of $12.13 and a 200 day moving average price of $11.82.

Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) last announced its quarterly earnings results on Tuesday, November 18th. The company reported ($0.08) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Alchemy Investments Acquisition Corp 1 stock. Clear Street Group Inc. purchased a new stake in Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,476 shares of the company’s stock, valued at approximately $75,000. Clear Street Group Inc. owned about 0.14% of Alchemy Investments Acquisition Corp 1 at the end of the most recent quarter. Hedge funds and other institutional investors own 92.46% of the company’s stock.

Alchemy Investments Acquisition Corp 1 Company Profile

Alchemy Investments Acquisition Corp 1 is a special purpose acquisition company (SPAC) formed under Delaware law in 2021 with the primary objective of effecting a merger, share exchange, asset acquisition or similar business combination. The company completed its initial public offering on the Nasdaq under the ticker ALCY, offering units that consist of one share of common stock and one-half of a redeemable warrant. As a blank‐check entity, Alchemy Investments Acquisition Corp 1 does not have any operations or revenues of its own but is dedicated to identifying and acquiring one or more businesses.

The sponsor of the company, Alchemy Investments, LLC, is an investment management firm headquartered in New York.