AlphaVest Acquisition (NASDAQ:ATMV) Major Shareholder Sells 82,002 Shares

AlphaVest Acquisition Corp. (NASDAQ:ATMV) major shareholder Harraden Circle Investments, L sold 82,002 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $13.86, for a total value of $1,136,547.72. Following the completion of the sale, the insider directly owned 463,547 shares in the company, valued at $6,424,761.42. The trade was a 15.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 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 Tuesday, December 9th, Harraden Circle Investments, L sold 133,722 shares of AlphaVest Acquisition stock. The shares were sold at an average price of $14.27, for a total transaction of $1,908,212.94.
• 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 on Tuesday, reaching $10.30. The stock 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 simple moving average of $8.94 and a 200 day simple moving average of $11.24.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Clear Street LLC grew its stake in AlphaVest Acquisition by 96.1% during the 2nd quarter. Clear Street LLC now owns 21,671 shares of the company’s stock worth $255,000 after buying an additional 10,620 shares during the last quarter. Quarry LP purchased a new stake in AlphaVest Acquisition during the first quarter worth $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. purchased a new position in AlphaVest Acquisition in the 3rd quarter valued at about $1,842,000. Finally, Berkley W R Corp grew its position in shares of AlphaVest Acquisition by 23.7% in the second 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 period. 46.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of AlphaVest Acquisition in a research report on Monday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

About AlphaVest Acquisition

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.