Mangrove Partners IM LLC Decreases Stock Position in BEST SPAC I Acquisition Corp. $BSAA

Mangrove Partners IM LLC lessened its stake in shares of BEST SPAC I Acquisition Corp. (NASDAQ:BSAA) by 39.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 163,810 shares of the company’s stock after selling 107,038 shares during the quarter. Mangrove Partners IM LLC’s holdings in BEST SPAC I Acquisition were worth $1,659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Westchester Capital Management LLC purchased a new stake in BEST SPAC I Acquisition during the 4th quarter valued at $506,000. Berkley W R Corp raised its holdings in BEST SPAC I Acquisition by 8.9% during the 4th quarter. Berkley W R Corp now owns 325,255 shares of the company’s stock valued at $3,285,000 after buying an additional 26,672 shares during the period. Glazer Capital LLC raised its holdings in BEST SPAC I Acquisition by 36.3% during the 4th quarter. Glazer Capital LLC now owns 203,308 shares of the company’s stock valued at $2,053,000 after buying an additional 54,136 shares during the period. L1 Global Manager Pty Ltd purchased a new stake in BEST SPAC I Acquisition during the 4th quarter valued at $506,000. Finally, Wolverine Asset Management LLC raised its holdings in BEST SPAC I Acquisition by 39.8% during the 4th quarter. Wolverine Asset Management LLC now owns 525,982 shares of the company’s stock valued at $5,328,000 after buying an additional 149,612 shares during the period.

BEST SPAC I Acquisition Stock Performance

BSAA stock opened at $14.76 on Wednesday. The stock has a fifty day simple moving average of $11.07. BEST SPAC I Acquisition Corp. has a twelve month low of $9.82 and a twelve month high of $17.20.

BEST SPAC I Acquisition (NASDAQ:BSAA) last released its earnings results on Tuesday, April 28th. The company reported $0.10 earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded BEST SPAC I Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, BEST SPAC I Acquisition has a consensus rating of “Sell”.

BEST SPAC I Acquisition Company Profile

BEST SPAC I Acquisition Corp. (NASDAQ: BSAA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and merge with one or more operating businesses. As a blank‑check company listed on the Nasdaq, its primary business activity is to seek a business combination that will result in the target becoming a publicly traded company through the SPAC vehicle.

Like other SPACs, BEST SPAC I is structured to raise capital from public investors and hold the proceeds in trust while management evaluates potential acquisition targets.