Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) Trading Down 0.3% – What’s Next?

Shares of Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) dropped 0.3% during trading on Friday . The company traded as low as $11.67 and last traded at $11.67. Approximately 13,104 shares traded hands during trading, a decline of 88% from the average daily volume of 111,293 shares. The stock had previously closed at $11.70.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Alchemy Investments Acquisition Corp 1 in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Alchemy Investments Acquisition Corp 1 has a consensus rating of “Sell”.

Alchemy Investments Acquisition Corp 1 Stock Performance

The company has a fifty day moving average of $12.13 and a two-hundred day moving average of $11.80.

Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) last posted its quarterly earnings data on Tuesday, November 18th. The company reported ($0.08) earnings per share for the quarter.

Institutional Investors Weigh In On Alchemy Investments Acquisition Corp 1

An institutional investor recently bought a new position in Alchemy Investments Acquisition Corp 1 stock. Clear Street Group Inc. bought a new position in shares of Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 6,476 shares of the company’s stock, valued at approximately $75,000. Clear Street Group Inc. owned approximately 0.14% of Alchemy Investments Acquisition Corp 1 as of its most recent filing with the SEC. 92.46% of the stock is owned by hedge funds and other institutional investors.

About Alchemy Investments Acquisition Corp 1

Alchemy Investments Acquisition Corp 1 is a special purpose acquisition company (SPAC) formed under Delaware law in 2021 with the primary objective of effecting a merger, share exchange, asset acquisition or similar business combination. The company completed its initial public offering on the Nasdaq under the ticker ALCY, offering units that consist of one share of common stock and one-half of a redeemable warrant. As a blank‐check entity, Alchemy Investments Acquisition Corp 1 does not have any operations or revenues of its own but is dedicated to identifying and acquiring one or more businesses.

The sponsor of the company, Alchemy Investments, LLC, is an investment management firm headquartered in New York.