Clear Street Group Inc. Takes Position in Crown Reserve Acquisition Corp. I $CRAC

Clear Street Group Inc. bought a new stake in shares of Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 234,866 shares of the company’s stock, valued at approximately $2,335,000.

Other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC bought a new stake in shares of Crown Reserve Acquisition Corp. I during the 4th quarter valued at $534,000. Wolverine Asset Management LLC bought a new stake in shares of Crown Reserve Acquisition Corp. I during the 4th quarter worth $928,000. Berkley W R Corp bought a new stake in shares of Crown Reserve Acquisition Corp. I during the 4th quarter worth $2,321,000. Periscope Capital Inc. acquired a new position in Crown Reserve Acquisition Corp. I in the 4th quarter worth about $2,458,000. Finally, Hudson Bay Capital Management LP acquired a new position in Crown Reserve Acquisition Corp. I in the 4th quarter worth about $2,982,000.

Crown Reserve Acquisition Corp. I Stock Performance

Shares of NASDAQ:CRAC opened at $10.12 on Monday. The business has a 50 day moving average price of $10.07. Crown Reserve Acquisition Corp. I has a 52-week low of $9.89 and a 52-week high of $10.11.

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Crown Reserve Acquisition Corp. I from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Crown Reserve Acquisition Corp. I presently has a consensus rating of “Sell”.

Crown Reserve Acquisition Corp. I Profile

Crown Reserve Acquisition Corp. I (NASDAQ: CRAC) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank‑check vehicle, the company was formed to raise capital through a public offering with the primary aim of identifying, negotiating and completing a business combination with one or more operating businesses. Prior to consummation of a qualifying transaction, Crown Reserve Acquisition Corp. I does not engage in substantive commercial operations beyond the activities necessary to carry out its formation and capital‑raising objectives.

The company’s principal activities include managing proceeds raised in its initial public offering, maintaining those funds in trust accounts, conducting due diligence on prospective targets and pursuing mergers, acquisitions or other strategic combinations that would enable the combined entity to become an operating public company.