Trailblazer Merger Corporation I (NASDAQ:TBMC) Shares Up 18.7% – Still a Buy?

Trailblazer Merger Corporation I (NASDAQ:TBMC)’s stock price shot up 18.7% during trading on Tuesday . The company traded as high as $13.73 and last traded at $11.81. 116,765 shares were traded during mid-day trading, an increase of 894% from the average session volume of 11,744 shares. The stock had previously closed at $9.95.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Trailblazer Merger Corporation I in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Trailblazer Merger Corporation I Price Performance

The stock has a 50 day simple moving average of $11.89 and a 200 day simple moving average of $11.83.

Trailblazer Merger Corporation I (NASDAQ:TBMC) last released its quarterly earnings data on Monday, March 9th. The company reported $3.06 earnings per share for the quarter.

Institutional Investors Weigh In On Trailblazer Merger Corporation I

A number of large investors have recently added to or reduced their stakes in TBMC. TrueMark Investments LLC purchased a new position in shares of Trailblazer Merger Corporation I in the third quarter valued at about $216,000. Shay Capital LLC purchased a new stake in shares of Trailblazer Merger Corporation I during the second quarter worth about $557,000. Clear Street LLC grew its stake in shares of Trailblazer Merger Corporation I by 503.7% in the second quarter. Clear Street LLC now owns 137,144 shares of the company’s stock worth $1,606,000 after purchasing an additional 114,426 shares during the last quarter. Finally, Clear Street Group Inc. bought a new stake in shares of Trailblazer Merger Corporation I in the third quarter worth about $2,183,000. Institutional investors own 77.13% of the company’s stock.

About Trailblazer Merger Corporation I

Trailblazer Merger Corporation I is a blank-check company incorporated in Delaware and listed on the Nasdaq under the ticker TBMC. As a special purpose acquisition company (SPAC), it does not engage in commercial operations but was formed to raise capital through an initial public offering and to identify and complete a merger, acquisition or share exchange with one or more businesses.

The company’s primary objective is to target high-growth enterprises across sectors such as technology, healthcare and consumer products.