Range Capital Acquisition (NASDAQ:RANG) Trading 0.2% Higher – Still a Buy?

Range Capital Acquisition Corp. (NASDAQ:RANG) shares traded up 0.2% on Friday . The stock traded as high as $10.50 and last traded at $10.49. 29,158 shares traded hands during trading, an increase of 17% from the average session volume of 24,929 shares. The stock had previously closed at $10.47.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Range Capital Acquisition in a research note on Friday, January 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Range Capital Acquisition currently has an average rating of “Sell”.

Range Capital Acquisition Price Performance

The firm has a fifty day moving average price of $10.43 and a 200-day moving average price of $10.39.

Hedge Funds Weigh In On Range Capital Acquisition

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC raised its holdings in shares of Range Capital Acquisition by 12.9% in the 2nd quarter. Wolverine Asset Management LLC now owns 815,626 shares of the company’s stock valued at $8,319,000 after acquiring an additional 93,412 shares in the last quarter. Wealthspring Capital LLC increased its position in shares of Range Capital Acquisition by 339.1% in the second quarter. Wealthspring Capital LLC now owns 680,922 shares of the company’s stock worth $6,945,000 after purchasing an additional 525,842 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Range Capital Acquisition in the second quarter valued at approximately $8,192,000. Clear Street LLC lifted its position in Range Capital Acquisition by 978.3% during the second quarter. Clear Street LLC now owns 7,041 shares of the company’s stock valued at $72,000 after purchasing an additional 6,388 shares during the last quarter. Finally, Karpus Management Inc. grew its stake in Range Capital Acquisition by 24.6% in the 2nd quarter. Karpus Management Inc. now owns 294,860 shares of the company’s stock worth $3,008,000 after buying an additional 58,171 shares in the last quarter.

About Range Capital Acquisition

Range Capital Acquisition Corp is a publicly traded special purpose acquisition company (SPAC) listed on the NASDAQ under the symbol RANG. The company was formed to raise capital through an initial public offering with the goal of effecting a merger, stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. As a blank‐check vehicle, it does not currently operate any underlying business but seeks to identify a suitable target that aligns with its investment criteria.

The SPAC is sponsored by Range Capital Partners, a private equity firm with a background in investing across industrial, energy and infrastructure sectors.