AlphaVest Acquisition (NASDAQ:ATMV) Stock Price Up 1.7% – Here’s Why

AlphaVest Acquisition Corp. (NASDAQ:ATMV)’s stock price rose 1.7% during trading on Tuesday . The stock traded as high as $8.03 and last traded at $7.59. Approximately 9,185 shares traded hands during trading, a decline of 86% from the average daily volume of 66,655 shares. The stock had previously closed at $7.46.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of AlphaVest Acquisition in a research report on Tuesday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

AlphaVest Acquisition Price Performance

The stock’s 50 day simple moving average is $10.24 and its 200 day simple moving average is $11.44.

AlphaVest Acquisition (NASDAQ:ATMV) last issued its earnings results on Wednesday, November 19th. The company reported ($0.73) earnings per share for the quarter. The business had revenue of $0.17 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ATMV. Clear Street LLC lifted its holdings in AlphaVest Acquisition by 96.1% during the second quarter. Clear Street LLC now owns 21,671 shares of the company’s stock worth $255,000 after buying an additional 10,620 shares during the period. Quarry LP purchased a new position in AlphaVest Acquisition during the 1st quarter worth $568,000. Harraden Circle Investments LLC purchased a new stake in shares of AlphaVest Acquisition during the third quarter worth about $762,000. Clear Street Group Inc. acquired a new position in shares of AlphaVest Acquisition during the third quarter valued at about $1,842,000. Finally, Berkley W R Corp raised its position in shares of AlphaVest Acquisition by 23.7% in the 2nd quarter. Berkley W R Corp now owns 233,745 shares of the company’s stock valued at $2,749,000 after purchasing an additional 44,730 shares during the last quarter. Hedge funds and other institutional investors own 46.08% of the company’s stock.

About AlphaVest Acquisition

AlphaVest Acquisition Corp does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2022 and is based in New York, New York.