Aristeia Capital L.L.C. bought a new position in shares of Crown Reserve Acquisition Corp. I (NASDAQ:CRAC – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 300,000 shares of the company’s stock, valued at approximately $2,982,000.
Several other hedge funds have also made changes to their positions in CRAC. Polar Asset Management Partners Inc. acquired a new stake in shares of Crown Reserve Acquisition Corp. I during the 4th quarter worth approximately $14,811,000. Magnetar Financial LLC purchased a new position in Crown Reserve Acquisition Corp. I in the fourth quarter worth approximately $14,761,000. Westchester Capital Management LLC purchased a new position in Crown Reserve Acquisition Corp. I in the fourth quarter worth approximately $6,063,000. Crossingbridge Advisors LLC acquired a new stake in Crown Reserve Acquisition Corp. I during the fourth quarter worth $5,973,000. Finally, Context Capital Management LLC purchased a new stake in Crown Reserve Acquisition Corp. I in the fourth quarter valued at $4,970,000.
Crown Reserve Acquisition Corp. I Stock Up 0.1%
Shares of CRAC stock opened at $10.12 on Thursday. Crown Reserve Acquisition Corp. I has a fifty-two week low of $9.89 and a fifty-two week high of $10.12. The company has a 50 day simple moving average of $10.08.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised Crown Reserve Acquisition Corp. I from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.
Get Our Latest Stock Report on CRAC
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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