AMCI Acquisition (NASDAQ:AMCI) Shares Down 0.8% - Here's Why

Key Points

• Shares fell 0.8% to $6.27 (intraday low $6.10) with just 21,475 shares traded, about a 69% drop from average session volume.
• Analysts hold a consensus Sell rating on AMCI, with Weiss Ratings reiterating a "sell (d)" and Wall Street Zen cutting the stock to "strong sell."
• AMCI is a blank‑check SPAC with no significant operations targeting natural resource infrastructure deals; institutional investors own 46.08% of the stock and DLD Asset Management recently purchased ~10,679 shares (~$84,000).

AMCI Acquisition Corp. (NASDAQ:AMCI - Get Free Report)'s stock price fell 0.8% on Thursday . The stock traded as low as $6.10 and last traded at $6.27. 21,475 shares traded hands during trading, a decline of 69% from the average session volume of 68,852 shares. The stock had previously closed at $6.32.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of AMCI Acquisition in a research note on Thursday, April 2nd. Wall Street Zen cut shares of AMCI Acquisition to a "strong sell" rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

AMCI Acquisition Stock Down 0.8%

The firm has a fifty day moving average price of $6.47 and a 200-day moving average price of $12.32.

Hedge Funds Weigh In On AMCI Acquisition

An institutional investor recently bought a new position in AMCI Acquisition stock. DLD Asset Management LP bought a new stake in AMCI Acquisition Corp. (NASDAQ:AMCI - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,679 shares of the company's stock, valued at approximately $84,000. Institutional investors and hedge funds own 46.08% of the company's stock.

AMCI Acquisition Company Profile

AMCI Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses operating in the natural resource infrastructure, value chain, and logistics-related sectors. The company was founded in 2018 and is based in Latrobe, Pennsylvania.

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