AMCI Acquisition (NASDAQ:AMCI) Stock Price Down 2.1% – What’s Next?

AMCI Acquisition Corp. (NASDAQ:AMCI) shares were down 2.1% on Monday. The stock traded as low as $1.86 and last traded at $1.91. 55,372 shares traded hands during mid-day trading, an increase of 35% from the average session volume of 40,871 shares. The stock had previously closed at $1.95.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AMCI Acquisition in a research report on Monday, October 19th. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of “Sell”.

AMCI Acquisition Stock Performance

The company has a 50 day moving average of $3.46 and a 200-day moving average of $5.24.

AMCI Acquisition (NASDAQ:AMCI) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.01) EPS for the quarter. The business had revenue of $0.94 million for the quarter.

Hedge Funds Weigh In On AMCI Acquisition

A hedge fund recently bought a new position in AMCI Acquisition stock. Themes Management Co LLC bought a new position in AMCI Acquisition Corp. (NASDAQ:AMCI) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 39,035 shares of the company’s stock, valued at approximately $213,000. Themes Management Co LLC owned about 0.17% of AMCI Acquisition at the end of the most recent quarter. 46.08% of the stock is owned by institutional investors and hedge funds.

About AMCI Acquisition

AMCI Acquisition Corp. was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with a company operating in the energy, natural resources, industrial, or related sectors. As a SPAC, it did not conduct significant operating activities or offer products and services of its own before completing a transaction.

AMCI Acquisition Corp. completed its business combination with Advent Technologies Holdings, Inc in February 2021. Following the transaction, Advent became a publicly traded company focused on developing fuel-cell and hydrogen technologies, and AMCI Acquisition Corp.