Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY) Stock Price Up 0.5% - Time to Buy?

Key Points

• ALCY rose 0.5% to $11.9620 on Thursday but trading was thin (1,113 shares, down ~60% vs. its 2,759-share average); the stock sits near its moving averages (50‑day $11.82, 200‑day $11.92).
• Institutional ownership is very high at 92.46%; Polar Asset Management raised its stake by 1.4% to 101,434 shares (about 2.41% of the company, valued at $1.44M).
• Alchemy Investments Acquisition Corp 1 is a SPAC with no operating revenues, formed in 2021 to pursue a business combination and originally listed units that include one share and half a warrant.

Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY - Get Free Report) rose 0.5% on Thursday . The company traded as high as $11.91 and last traded at $11.9620. Approximately 1,113 shares traded hands during trading, a decline of 60% from the average daily volume of 2,759 shares. The stock had previously closed at $11.90.

Alchemy Investments Acquisition Corp 1 Trading Up 0.5%

The stock has a 50-day simple moving average of $11.82 and a two-hundred day simple moving average of $11.92.

Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY - Get Free Report) last issued its earnings results on Wednesday, April 8th. The company reported ($0.06) earnings per share for the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Alchemy Investments Acquisition Corp 1 stock. Polar Asset Management Partners Inc. lifted its stake in Alchemy Investments Acquisition Corp 1 (NASDAQ:ALCY - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,434 shares of the company's stock after acquiring an additional 1,434 shares during the period. Polar Asset Management Partners Inc. owned 2.41% of Alchemy Investments Acquisition Corp 1 worth $1,441,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 92.46% of the company's stock.

About Alchemy Investments Acquisition Corp 1

Alchemy Investments Acquisition Corp 1 is a special purpose acquisition company (SPAC) formed under Delaware law in 2021 with the primary objective of effecting a merger, share exchange, asset acquisition or similar business combination. The company completed its initial public offering on the Nasdaq under the ticker ALCY, offering units that consist of one share of common stock and one-half of a redeemable warrant. As a blank‐check entity, Alchemy Investments Acquisition Corp 1 does not have any operations or revenues of its own but is dedicated to identifying and acquiring one or more businesses.

The sponsor of the company, Alchemy Investments, LLC, is an investment management firm headquartered in New York.

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