Charlton Aria Acquisition (NASDAQ:CHAR) Shares Down 0.3% – Time to Sell?

Charlton Aria Acquisition Corp (NASDAQ:CHAR) shares were down 0.3% during mid-day trading on Thursday . The company traded as low as $10.53 and last traded at $10.53. Approximately 2 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 31,672 shares. The stock had previously closed at $10.56.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings began coverage on Charlton Aria Acquisition in a research note on Monday, January 26th. They set a “sell (d)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Charlton Aria Acquisition Stock Performance

Institutional Trading of Charlton Aria Acquisition

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clear Street Group Inc. lifted its position in shares of Charlton Aria Acquisition by 277.6% in the 4th quarter. Clear Street Group Inc. now owns 116,977 shares of the company’s stock worth $1,222,000 after purchasing an additional 86,000 shares during the period. ABC Arbitrage SA bought a new position in Charlton Aria Acquisition during the fourth quarter worth $209,000. Finally, Glazer Capital LLC raised its stake in Charlton Aria Acquisition by 5.3% during the fourth quarter. Glazer Capital LLC now owns 50,242 shares of the company’s stock worth $526,000 after buying an additional 2,528 shares during the last quarter.

Charlton Aria Acquisition Corp. (NASDAQ: CHAR) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank-check vehicle, its primary business purpose is to identify, negotiate and complete a business combination, merger, capital stock exchange, asset acquisition or similar transaction with one or more operating businesses. SPACs such as Charlton Aria raise capital through public offerings and seek to use those proceeds to acquire a private company and take it public through the combination.

Like other SPACs, Charlton Aria’s principal activities center on sourcing potential targets, conducting due diligence, negotiating transaction terms and securing shareholder and regulatory approvals for a proposed business combination.