Charlton Aria Acquisition (NASDAQ:CHAR) Trading Up 0% – Time to Buy?

Charlton Aria Acquisition Corp (NASDAQ:CHAR) shares shot up 0% during trading on Friday . The stock traded as high as $10.81 and last traded at $10.8150. 5,305 shares traded hands during mid-day trading, a decline of 66% from the average session volume of 15,747 shares. The stock had previously closed at $10.81.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Charlton Aria Acquisition in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Charlton Aria Acquisition Price Performance

The stock’s fifty day moving average price is $10.77.

Charlton Aria Acquisition (NASDAQ:CHAR) last issued its quarterly earnings results on Wednesday, June 17th. The company reported $0.06 earnings per share for the quarter.

Institutional Investors Weigh In On Charlton Aria Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in CHAR. Berkley W R Corp increased its stake in shares of Charlton Aria Acquisition by 19.4% during the 1st quarter. Berkley W R Corp now owns 878,975 shares of the company’s stock valued at $9,304,000 after acquiring an additional 142,746 shares during the last quarter. Clear Street Group Inc. boosted its position in shares of Charlton Aria Acquisition by 277.6% in the fourth quarter. Clear Street Group Inc. now owns 116,977 shares of the company’s stock worth $1,222,000 after acquiring an additional 86,000 shares during the last quarter. Sona Asset Management US LLC purchased a new stake in Charlton Aria Acquisition in the first quarter valued at approximately $1,058,000. Glazer Capital LLC increased its position in Charlton Aria Acquisition by 5.3% during the fourth quarter. Glazer Capital LLC now owns 50,242 shares of the company’s stock worth $526,000 after purchasing an additional 2,528 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new position in Charlton Aria Acquisition during the fourth quarter worth approximately $209,000.

Charlton Aria Acquisition Corp. (NASDAQ: CHAR) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank-check vehicle, its primary business purpose is to identify, negotiate and complete a business combination, merger, capital stock exchange, asset acquisition or similar transaction with one or more operating businesses. SPACs such as Charlton Aria raise capital through public offerings and seek to use those proceeds to acquire a private company and take it public through the combination.

Like other SPACs, Charlton Aria’s principal activities center on sourcing potential targets, conducting due diligence, negotiating transaction terms and securing shareholder and regulatory approvals for a proposed business combination.