PropTech Acquisition Co.’s Lock-Up Period To End Tomorrow (NASDAQ:PTAC)

PropTech Acquisition’s (NASDAQ:PTAC) lock-up period is set to expire on Wednesday, November 11th. PropTech Acquisition had issued 16,000,000 shares in its initial public offering on May 15th. The total size of the offering was $160,000,000 based on an initial share price of $10.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings assumed coverage on shares of PropTech Acquisition in a research report on Monday, September 28th. They set a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has a consensus rating of “Sell”.

PropTech Acquisition Price Performance

Shares of PropTech Acquisition stock opened at $10.09 on Tuesday. PropTech Acquisition has a twelve month low of $9.74 and a twelve month high of $10.10. The company’s fifty day moving average is $9.89 and its 200 day moving average is $7.99.

About PropTech Acquisition

PropTech Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and combine with a business operating in the real estate technology sector. Unlike an operating company, its primary activity before completing a transaction was raising capital through a public offering and searching for a suitable merger or acquisition target.

PropTech Acquisition Corp. entered into an agreement to combine with Porch.com, a technology platform serving the home services and residential real estate markets.