Gritstone Asset Management LLC Invests $690,000 in Pioneer Acquisition I Corp. $PACH

Gritstone Asset Management LLC bought a new position in shares of Pioneer Acquisition I Corp. (NASDAQ:PACH) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 69,324 shares of the company’s stock, valued at approximately $690,000.

Separately, Deltec Asset Management LLC bought a new position in Pioneer Acquisition I during the third quarter worth $99,000.

Pioneer Acquisition I Stock Performance

Shares of NASDAQ PACH opened at $10.12 on Friday. The firm has a fifty day moving average price of $10.09. Pioneer Acquisition I Corp. has a one year low of $9.94 and a one year high of $10.16.

Analyst Ratings Changes

Several brokerages have recently weighed in on PACH. Weiss Ratings reissued a “sell (e)” rating on shares of Pioneer Acquisition I in a research report on Monday, December 29th. Wall Street Zen lowered shares of Pioneer Acquisition I from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Pioneer Acquisition I presently has a consensus rating of “Sell”.

About Pioneer Acquisition I

Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.