Periscope Capital Inc. Takes $2.46 Million Position in Crown Reserve Acquisition Corp. I $CRAC

Periscope Capital Inc. bought a new stake in shares of Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 247,300 shares of the company’s stock, valued at approximately $2,458,000.

Several other large investors have also recently modified their holdings of CRAC. Geode Capital Management LLC bought a new position in shares of Crown Reserve Acquisition Corp. I during the 4th quarter valued at approximately $534,000. Wolverine Asset Management LLC bought a new position in shares of 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 position in shares of Crown Reserve Acquisition Corp. I during the 4th quarter valued at approximately $3,043,000.

Crown Reserve Acquisition Corp. I Price Performance

CRAC opened at $10.11 on Friday. The firm’s fifty day simple moving average is $10.05. Crown Reserve Acquisition Corp. I has a 52-week low of $9.89 and a 52-week high of $10.11.

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings initiated coverage on Crown Reserve Acquisition Corp. I in a research report on Friday, March 6th. They set a “sell (e)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Crown Reserve Acquisition Corp. I Profile

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.