Aimei Health Technology (NASDAQ:AFJK) Stock Price Down 0.3% - Time to Sell?

Key Points

• Aimei Health Technology's stock price decreased by 0.3%, closing at $11.40 on Wednesday, with a significant increase in trading volume.
• Weiss Ratings has maintained a "sell (d+)" rating on Aimei Health Technology, indicating a bearish outlook from analysts.
• The company, which has yet to establish significant operations, aims to pursue business combinations in the biopharmaceutical and medical technology sectors.

Aimei Health Technology Co., Ltd. (NASDAQ:AFJK - Get Free Report) was down 0.3% during trading on Wednesday . The company traded as low as $11.40 and last traded at $11.40. Approximately 25,114 shares changed hands during trading, an increase of 837% from the average daily volume of 2,680 shares. The stock had previously closed at $11.43.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (d+)" rating on shares of Aimei Health Technology in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Aimei Health Technology has an average rating of "Sell".

Aimei Health Technology Price Performance

The firm has a fifty day simple moving average of $11.31 and a 200 day simple moving average of $11.18. The company has a market capitalization of $69.77 million, a price-to-earnings ratio of 49.57 and a beta of -0.03.

Aimei Health Technology (NASDAQ:AFJK - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The company reported $0.07 earnings per share (EPS) for the quarter.

Institutional Trading of Aimei Health Technology

Several institutional investors have recently modified their holdings of AFJK. Berkley W R Corp boosted its holdings in Aimei Health Technology by 23.6% in the 2nd quarter. Berkley W R Corp now owns 425,361 shares of the company's stock worth $4,704,000 after buying an additional 81,235 shares during the last quarter. Clear Street LLC boosted its stake in shares of Aimei Health Technology by 63.8% in the second quarter. Clear Street LLC now owns 39,525 shares of the company's stock worth $441,000 after acquiring an additional 15,399 shares during the last quarter. Wellspring Financial Advisors LLC acquired a new stake in shares of Aimei Health Technology in the second quarter worth approximately $133,000. Crossingbridge Advisors LLC acquired a new stake in shares of Aimei Health Technology in the second quarter worth approximately $2,147,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Aimei Health Technology in the first quarter worth approximately $110,000. Institutional investors and hedge funds own 45.58% of the company's stock.

Aimei Health Technology Company Profile

Aimei Health Technology Co, Ltd does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. It intends to acquires businesses in the biopharmaceutical, medical technology/device industries or diagnostic, and other services sectors.

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