Alpha Capital Acquisition (NASDAQ:ASPC) Shares Up 14.9% – Here’s Why

Alpha Capital Acquisition (NASDAQ:ASPC) shares were up 14.9% during mid-day trading on Friday . The stock traded as high as $12.65 and last traded at $12.45. Approximately 532,172 shares changed hands during mid-day trading, an increase of 1,204% from the average session volume of 40,825 shares. The stock had previously closed at $10.84.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Capital Acquisition in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Alpha Capital Acquisition Stock Up 14.9%

The stock has a fifty day moving average of $10.77 and a 200-day moving average of $11.23.

Alpha Capital Acquisition (NASDAQ:ASPC) last announced its earnings results on Wednesday, August 12th. The company reported $0.08 EPS for the quarter. Analysts anticipate that Alpha Capital Acquisition will post -0.27 earnings per share for the current fiscal year.

Institutional Trading of Alpha Capital Acquisition

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sandia Investment Management LP purchased a new stake in Alpha Capital Acquisition during the second quarter valued at about $308,000. Radcliffe Capital Management L.P. purchased a new position in shares of Alpha Capital Acquisition in the second quarter worth approximately $336,000. Geode Capital Management LLC acquired a new stake in shares of Alpha Capital Acquisition during the fourth quarter valued at approximately $377,000. Goldman Sachs Group Inc. acquired a new stake in shares of Alpha Capital Acquisition during the first quarter valued at approximately $636,000. Finally, Gabelli Funds LLC acquired a new stake in shares of Alpha Capital Acquisition during the second quarter valued at approximately $736,000. Institutional investors and hedge funds own 88.95% of the company’s stock.

About Alpha Capital Acquisition

Alpha Capital Acquisition Company does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in technology sector. The company was incorporated in 2020 and is based in New York, New York.