AMCI Acquisition (NASDAQ:AMCI) Stock Price Down 1.3% – Here’s Why

AMCI Acquisition Corp. (NASDAQ:AMCI – Get Free Report)’s share price dropped 1.3% during trading on Monday. The company traded as low as $2.93 and last traded at $2.97. Approximately 33,348 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 129,591 shares. The stock had previously closed at $3.01.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of AMCI Acquisition in a report on Tuesday, July 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Check Out Our Latest Research Report on AMCI Acquisition

AMCI Acquisition Stock Down 1.3%

The stock has a 50 day simple moving average of $4.05 and a 200 day simple moving average of $4.99.

AMCI Acquisition (NASDAQ:AMCI – Get Free Report) last posted its earnings results on Friday, August 14th. The company reported ($0.01) EPS for the quarter. The firm had revenue of $0.94 million during the quarter.

Institutional Investors Weigh In On AMCI Acquisition

A hedge fund recently bought a new stake in AMCI Acquisition stock. Themes Management Co LLC purchased a new stake in shares of AMCI Acquisition Corp. (NASDAQ:AMCI – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,035 shares of the company’s stock, valued at approximately $213,000. Themes Management Co LLC owned 0.17% of AMCI Acquisition as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 46.08% of the company’s stock.

AMCI Acquisition Company Profile

(Get Free Report)

AMCI Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Rather than conducting ongoing commercial operations of its own, the company raised capital through an initial public offering and evaluated potential merger and acquisition opportunities.

AMCI focused its search on businesses in the metals, mining, materials, energy and related natural-resource sectors. In 2021, it completed a business combination with Advent Technologies, a developer of fuel-cell and hydrogen technologies.

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