Alpha Capital Acquisition (NASDAQ:ASPC) Stock Price Up 0.5% – Here’s Why

Alpha Capital Acquisition (NASDAQ:ASPC) shot up 0.5% during trading on Friday . The stock traded as high as $11.12 and last traded at $10.98. Approximately 31,324 shares were traded during trading, a decline of 19% from the average session volume of 38,671 shares. The stock had previously closed at $10.92.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Alpha Capital Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Alpha Capital Acquisition Stock Up 0.5%

The stock’s fifty day moving average price is $10.81 and its two-hundred day moving average price is $11.04.

Alpha Capital Acquisition (NASDAQ:ASPC) last released its earnings results on Wednesday, August 12th. The company reported $0.08 EPS for the quarter. On average, research analysts predict that Alpha Capital Acquisition will post -0.27 earnings per share for the current year.

Institutional Investors Weigh In On Alpha Capital Acquisition

A number of hedge funds and other institutional investors have recently modified their holdings of ASPC. Geode Capital Management LLC purchased a new position in Alpha Capital Acquisition in the 4th quarter worth approximately $377,000. Sandia Investment Management LP bought a new position in shares of Alpha Capital Acquisition in the second quarter worth approximately $308,000. Radcliffe Capital Management L.P. purchased a new position in shares of Alpha Capital Acquisition in the second quarter worth $336,000. Goldman Sachs Group Inc. bought a new stake in Alpha Capital Acquisition during the 1st quarter valued at $636,000. Finally, Gabelli Funds LLC purchased a new stake in Alpha Capital Acquisition during the 2nd quarter valued at $736,000. Institutional investors own 88.95% of the company’s stock.

Alpha Capital Acquisition Company Profile

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.