Periscope Capital Inc. bought a new stake in shares of Crown Reserve Acquisition Corp. I (NASDAQ:CRAC – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 247,300 shares of the company’s stock, valued at approximately $2,458,000. Periscope Capital Inc. owned 1.15% of Crown Reserve Acquisition Corp. I at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC bought a new stake in Crown Reserve Acquisition Corp. I during the 4th quarter valued at approximately $534,000. Wolverine Asset Management LLC bought a new stake in Crown Reserve Acquisition Corp. I during the 4th quarter valued at approximately $928,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Crown Reserve Acquisition Corp. I during the 4th quarter valued at approximately $3,043,000.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings initiated coverage on Crown Reserve Acquisition Corp. I in a research note on Friday, March 6th. They issued a “sell (e)” rating on the stock. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.
Crown Reserve Acquisition Corp. I Stock Performance
NASDAQ:CRAC opened at $10.11 on Friday. Crown Reserve Acquisition Corp. I has a 1 year low of $9.89 and a 1 year high of $10.11. The business has a 50 day moving average price of $10.05.
Crown Reserve Acquisition Corp. I (NASDAQ:CRAC – Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter.
About Crown Reserve Acquisition Corp. I
Crown Reserve Acquisition Corp. I (NASDAQ: CRAC) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank‑check vehicle, the company was formed to raise capital through a public offering with the primary aim of identifying, negotiating and completing a business combination with one or more operating businesses. Prior to consummation of a qualifying transaction, Crown Reserve Acquisition Corp. I does not engage in substantive commercial operations beyond the activities necessary to carry out its formation and capital‑raising objectives.
The company’s principal activities include managing proceeds raised in its initial public offering, maintaining those funds in trust accounts, conducting due diligence on prospective targets and pursuing mergers, acquisitions or other strategic combinations that would enable the combined entity to become an operating public company.
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