BEST SPAC I Acquisition (NASDAQ:BSAA) Shares Up 0.2% – Time to Buy?

BEST SPAC I Acquisition Corp. (NASDAQ:BSAA)’s stock price traded up 0.2% on Thursday . The company traded as high as $10.24 and last traded at $10.24. 101 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 878 shares. The stock had previously closed at $10.22.

Wall Street Analyst Weigh In

Separately, Weiss Ratings started coverage on shares of BEST SPAC I Acquisition in a research note on Monday, January 26th. They set a “sell (e)” rating on the stock. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, BEST SPAC I Acquisition presently has an average rating of “Sell”.

BEST SPAC I Acquisition Stock Performance

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank acquired a new stake in shares of BEST SPAC I Acquisition during the 4th quarter valued at $70,000. PenderFund Capital Management Ltd. purchased a new position in shares of BEST SPAC I Acquisition during the 4th quarter valued at $120,000. Westchester Capital Management LLC purchased a new position in BEST SPAC I Acquisition in the fourth quarter valued at about $506,000. L1 Global Manager Pty Ltd bought a new stake in shares of BEST SPAC I Acquisition in the 4th quarter valued at approximately $506,000. Finally, Aristeia Capital L.L.C. bought a new stake in BEST SPAC I Acquisition in the fourth quarter worth approximately $962,000.

BEST SPAC I Acquisition Company Profile

BEST SPAC I Acquisition Corp. (NASDAQ: BSAA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and merge with one or more operating businesses. As a blank‑check company listed on the Nasdaq, its primary business activity is to seek a business combination that will result in the target becoming a publicly traded company through the SPAC vehicle.

Like other SPACs, BEST SPAC I is structured to raise capital from public investors and hold the proceeds in trust while management evaluates potential acquisition targets.