BEST SPAC I Acquisition Corp. $BSAA Shares Purchased by Wolverine Asset Management LLC

Key Points

• Wolverine Asset Management increased its stake in BEST SPAC I Acquisition (NASDAQ:BSAA) by 39.8% in Q4, buying 149,612 shares to hold 525,982 shares (7.11% of the company) valued at about $5.33 million per the SEC filing.
• Weiss Ratings nudged its rating from "sell (e+)" to "sell (d-)," and the stock maintains a consensus Sell rating from analysts.
• BSAA opened at $10.31, trading near its 50-day moving average of $10.24 and within a narrow one-year range of $9.82 to $10.33.

Wolverine Asset Management LLC lifted its holdings in BEST SPAC I Acquisition Corp. (NASDAQ:BSAA - Free Report) by 39.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 525,982 shares of the company's stock after acquiring an additional 149,612 shares during the quarter. Wolverine Asset Management LLC owned 7.11% of BEST SPAC I Acquisition worth $5,328,000 as of its most recent SEC filing.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of BEST SPAC I Acquisition from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of "Sell".

BEST SPAC I Acquisition Stock Performance

BSAA stock opened at $10.31 on Monday. The firm's fifty day moving average price is $10.24. BEST SPAC I Acquisition Corp. has a one year low of $9.82 and a one year high of $10.33.

BEST SPAC I Acquisition Profile

BEST SPAC I Acquisition Corp. NASDAQ: BSAA is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and merge with one or more operating businesses. As a blank‑check company listed on the Nasdaq, its primary business activity is to seek a business combination that will result in the target becoming a publicly traded company through the SPAC vehicle.

Like other SPACs, BEST SPAC I is structured to raise capital from public investors and hold the proceeds in trust while management evaluates potential acquisition targets.

Want to see what other hedge funds are holding BSAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BEST SPAC I Acquisition Corp. (NASDAQ:BSAA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.