Charlton Aria Acquisition (NASDAQ:CHAR) Trading 0.2% Higher – Still a Buy?

Charlton Aria Acquisition Corp (NASDAQ:CHAR)’s stock price rose 0.2% during trading on Friday . The company traded as high as $10.78 and last traded at $10.76. Approximately 23,267 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 18,152 shares. The stock had previously closed at $10.74.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Charlton Aria Acquisition in a report on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Charlton Aria Acquisition has an average rating of “Sell”.

Charlton Aria Acquisition Price Performance

The stock has a 50 day simple moving average of $10.66.

Charlton Aria Acquisition (NASDAQ:CHAR) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.06 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Charlton Aria Acquisition

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ABC Arbitrage SA bought a new position in Charlton Aria Acquisition during the 4th quarter worth approximately $209,000. Glazer Capital LLC grew its position in shares of Charlton Aria Acquisition by 5.3% in the fourth quarter. Glazer Capital LLC now owns 50,242 shares of the company’s stock valued at $526,000 after purchasing an additional 2,528 shares during the last quarter. Clear Street Group Inc. grew its position in shares of Charlton Aria Acquisition by 277.6% in the fourth quarter. Clear Street Group Inc. now owns 116,977 shares of the company’s stock valued at $1,222,000 after purchasing an additional 86,000 shares during the last quarter. Berkley W R Corp increased its stake in shares of Charlton Aria Acquisition by 19.4% during the first quarter. Berkley W R Corp now owns 878,975 shares of the company’s stock worth $9,304,000 after purchasing an additional 142,746 shares during the period. Finally, Sona Asset Management US LLC acquired a new stake in Charlton Aria Acquisition during the 1st quarter worth approximately $1,058,000.

Charlton Aria Acquisition Corp. (NASDAQ: CHAR) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank-check vehicle, its primary business purpose is to identify, negotiate and complete a business combination, merger, capital stock exchange, asset acquisition or similar transaction with one or more operating businesses. SPACs such as Charlton Aria raise capital through public offerings and seek to use those proceeds to acquire a private company and take it public through the combination.

Like other SPACs, Charlton Aria’s principal activities center on sourcing potential targets, conducting due diligence, negotiating transaction terms and securing shareholder and regulatory approvals for a proposed business combination.