Charlton Aria Acquisition (NASDAQ:CHAR) Posts Quarterly Earnings Results

Charlton Aria Acquisition (NASDAQ:CHAR) posted its quarterly earnings results on Wednesday. The company reported $0.06 earnings per share (EPS) for the quarter, FiscalAI reports.

Charlton Aria Acquisition Price Performance

NASDAQ CHAR traded down $0.21 during trading hours on Wednesday, hitting $10.59. The company had a trading volume of 574 shares, compared to its average volume of 16,623. Charlton Aria Acquisition has a fifty-two week low of $10.25 and a fifty-two week high of $11.30. The business has a fifty day moving average of $10.71.

Hedge Funds Weigh In On Charlton Aria Acquisition

A number of institutional investors and hedge funds have recently bought and sold shares of CHAR. Berkley W R Corp grew its position in Charlton Aria Acquisition by 19.4% in the 1st quarter. Berkley W R Corp now owns 878,975 shares of the company’s stock valued at $9,304,000 after buying an additional 142,746 shares in the last quarter. Sona Asset Management US LLC bought a new position in Charlton Aria Acquisition in the 1st quarter valued at about $1,058,000. Clear Street Group Inc. grew its position in Charlton Aria Acquisition by 277.6% in the 4th quarter. Clear Street Group Inc. now owns 116,977 shares of the company’s stock valued at $1,222,000 after buying an additional 86,000 shares in the last quarter. ABC Arbitrage SA bought a new position in Charlton Aria Acquisition in the 4th quarter valued at about $209,000. Finally, Glazer Capital LLC grew its position in Charlton Aria Acquisition by 5.3% in the 4th quarter. Glazer Capital LLC now owns 50,242 shares of the company’s stock valued at $526,000 after buying an additional 2,528 shares in the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Charlton Aria Acquisition in a research report on Friday, April 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Charlton Aria Acquisition presently has a consensus rating of “Sell”.

Charlton Aria Acquisition Corp. (NASDAQ: CHAR) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank-check vehicle, its primary business purpose is to identify, negotiate and complete a business combination, merger, capital stock exchange, asset acquisition or similar transaction with one or more operating businesses. SPACs such as Charlton Aria raise capital through public offerings and seek to use those proceeds to acquire a private company and take it public through the combination.

Like other SPACs, Charlton Aria’s principal activities center on sourcing potential targets, conducting due diligence, negotiating transaction terms and securing shareholder and regulatory approvals for a proposed business combination.