Aristeia Capital L.L.C. Takes $962,000 Position in BEST SPAC I Acquisition Corp. $BSAA

Aristeia Capital L.L.C. acquired a new stake in BEST SPAC I Acquisition Corp. (NASDAQ:BSAA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 95,000 shares of the company’s stock, valued at approximately $962,000.

Several other hedge funds have also modified their holdings of BSAA. PenderFund Capital Management Ltd. acquired a new stake in shares of BEST SPAC I Acquisition in the fourth quarter valued at $120,000. L1 Global Manager Pty Ltd acquired a new stake in BEST SPAC I Acquisition in the fourth quarter valued at $506,000. Westchester Capital Management LLC acquired a new stake in BEST SPAC I Acquisition in the fourth quarter valued at $506,000. Heights Capital Management Inc. acquired a new stake in BEST SPAC I Acquisition in the fourth quarter valued at $1,773,000. Finally, Glazer Capital LLC raised its stake in BEST SPAC I Acquisition by 36.3% in the fourth quarter. Glazer Capital LLC now owns 203,308 shares of the company’s stock valued at $2,053,000 after buying an additional 54,136 shares in the last quarter.

BEST SPAC I Acquisition Stock Performance

Shares of BSAA stock opened at $14.66 on Thursday. The business’s 50-day moving average price is $11.16. BEST SPAC I Acquisition Corp. has a 1 year low of $9.82 and a 1 year high of $17.20.

BEST SPAC I Acquisition (NASDAQ:BSAA) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.10 earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded BEST SPAC I Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

BEST SPAC I Acquisition Company Profile

BEST SPAC I Acquisition Corp. (NASDAQ: BSAA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and merge with one or more operating businesses. As a blank‑check company listed on the Nasdaq, its primary business activity is to seek a business combination that will result in the target becoming a publicly traded company through the SPAC vehicle.

Like other SPACs, BEST SPAC I is structured to raise capital from public investors and hold the proceeds in trust while management evaluates potential acquisition targets.