Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) Stock Price Down 0.5% – Here’s Why

Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY)’s share price was down 0.5% during mid-day trading on Wednesday . The company traded as low as $11.74 and last traded at $11.8250. Approximately 5,190 shares changed hands during mid-day trading, an increase of 242% from the average daily volume of 1,519 shares. The stock had previously closed at $11.88.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alchemy Investments Acquisition Corp 1 in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Alchemy Investments Acquisition Corp 1 Stock Performance

The business’s 50-day moving average is $11.77 and its two-hundred day moving average is $11.89.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Alchemy Investments Acquisition Corp 1 stock. Polar Asset Management Partners Inc. grew its position in Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 101,434 shares of the company’s stock after purchasing an additional 1,434 shares during the period. Polar Asset Management Partners Inc. owned approximately 2.41% of Alchemy Investments Acquisition Corp 1 worth $1,441,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 92.46% of the company’s stock.

About Alchemy Investments Acquisition Corp 1

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.