Mangrove Partners IM LLC Buys Shares of 450,000 Pioneer Acquisition I Corp. $PACH

Mangrove Partners IM LLC purchased a new stake in Pioneer Acquisition I Corp. (NASDAQ:PACH) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 450,000 shares of the company’s stock, valued at approximately $4,482,000.

Several other hedge funds have also recently modified their holdings of the business. ATW Spac Management LLC bought a new position in shares of Pioneer Acquisition I during the third quarter valued at approximately $831,000. Wolverine Asset Management LLC purchased a new position in Pioneer Acquisition I during the third quarter valued at approximately $6,731,000. Dakota Wealth Management bought a new position in Pioneer Acquisition I in the third quarter worth approximately $1,083,000. Picton Mahoney Asset Management bought a new position in Pioneer Acquisition I in the third quarter worth approximately $4,975,000. Finally, Context Capital Management LLC purchased a new stake in Pioneer Acquisition I during the third quarter worth $1,492,000.

Pioneer Acquisition I Stock Down 0.1%

NASDAQ PACH opened at $10.18 on Friday. Pioneer Acquisition I Corp. has a 12-month low of $9.94 and a 12-month high of $10.19. The company has a fifty day simple moving average of $10.11 and a two-hundred day simple moving average of $10.06.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen cut Pioneer Acquisition I from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Weiss Ratings restated a “sell (e)” rating on shares of Pioneer Acquisition I in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Pioneer Acquisition I Company Profile

Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.