AlphaVest Acquisition (NASDAQ:ATMV) Major Shareholder Sells $1,908,212.94 in Stock

AlphaVest Acquisition Corp. (NASDAQ:ATMV) major shareholder Harraden Circle Investments, L sold 133,722 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $14.27, for a total value of $1,908,212.94. Following the sale, the insider directly owned 329,825 shares of the company’s stock, valued at $4,706,602.75. This represents a 28.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Harraden Circle Investments, L also recently made the following trade(s):

• On Monday, December 8th, Harraden Circle Investments, L sold 82,002 shares of AlphaVest Acquisition stock. The shares were sold at an average price of $13.86, for a total transaction of $1,136,547.72.
• On Friday, December 5th, Harraden Circle Investments, L sold 4,451 shares of AlphaVest Acquisition stock. The stock was sold at an average price of $8.90, for a total transaction of $39,613.90.

AlphaVest Acquisition Stock Performance

Shares of ATMV stock traded up $2.46 during trading hours on Tuesday, reaching $10.30. The company had a trading volume of 12,607,150 shares, compared to its average volume of 183,685. AlphaVest Acquisition Corp. has a 1-year low of $5.43 and a 1-year high of $42.00. The company has a 50 day moving average of $8.94 and a 200 day moving average of $11.24.

AlphaVest Acquisition (NASDAQ:ATMV) last posted its earnings results on Wednesday, November 19th. The company reported ($0.73) earnings per share (EPS) for the quarter. The firm had revenue of $0.17 million during the quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Clear Street LLC raised its stake in AlphaVest Acquisition by 96.1% in the second quarter. Clear Street LLC now owns 21,671 shares of the company’s stock valued at $255,000 after buying an additional 10,620 shares during the period. Quarry LP bought a new position in shares of AlphaVest Acquisition during the 1st quarter worth approximately $568,000. Harraden Circle Investments LLC acquired a new position in shares of AlphaVest Acquisition during the 3rd quarter worth approximately $762,000. Clear Street Group Inc. bought a new stake in AlphaVest Acquisition in the 3rd quarter valued at $1,842,000. Finally, Berkley W R Corp lifted its holdings in AlphaVest Acquisition by 23.7% during the 2nd quarter. Berkley W R Corp now owns 233,745 shares of the company’s stock valued at $2,749,000 after purchasing an additional 44,730 shares during the last quarter. Institutional investors own 46.08% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of AlphaVest Acquisition in a research note on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

AlphaVest Acquisition Company Profile

AlphaVest Acquisition Corp does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2022 and is based in New York, New York.