Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) Shares Down 0.6% – Here’s Why

Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) fell 0.6% on Tuesday . The stock traded as low as $11.65 and last traded at $11.7540. 448 shares were traded during trading, a decline of 84% from the average session volume of 2,873 shares. The stock had previously closed at $11.83.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Alchemy Investments Acquisition Corp 1 in a report on Monday, December 29th. One research 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 business has a 50-day moving average of $11.79 and a 200-day moving average of $11.83.

Institutional Trading of Alchemy Investments Acquisition Corp 1

An institutional investor recently bought a new position in Alchemy Investments Acquisition Corp 1 stock. Clear Street Group Inc. acquired a new stake in shares of Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 SEC filing. Hedge funds and other institutional investors own 92.46% of the company’s stock.

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.