Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) Shares Down 4.7% – Time to Sell?

Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY)’s stock price fell 4.7% on Thursday . The stock traded as low as $12.02 and last traded at $12.46. 119,038 shares were traded during mid-day trading, an increase of 4% from the average session volume of 114,947 shares. The stock had previously closed at $13.08.

Analyst Upgrades and Downgrades

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

Alchemy Investments Acquisition Corp 1 Price Performance

The company has a 50-day moving average price of $12.11 and a 200-day moving average price of $11.77.

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

Institutional Trading of Alchemy Investments Acquisition Corp 1

A hedge fund recently bought a new stake in Alchemy Investments Acquisition Corp 1 stock. Clear Street Group Inc. purchased a new stake in Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 6,476 shares of the company’s stock, valued at approximately $75,000. Clear Street Group Inc. owned about 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.