Clear Street Group Inc. Takes Position in Pioneer Acquisition I Corp. $PACH

Key Points

• Clear Street Group bought 723,060 shares of Pioneer Acquisition I (PACH) in Q3 — roughly $7.2 million, representing about 2.29% of the company.
• Analyst sentiment is negative: several firms (including Wall Street Zen and Weiss Ratings) have issued or reiterated "Sell" ratings, and MarketBeat shows a consensus rating of Sell.
• PACH is a SPAC trading around $10.18 with a tight 52-week range of $9.94–$10.19, and several other institutions also initiated modest stakes in the third quarter.

Clear Street Group Inc. purchased a new position in Pioneer Acquisition I Corp. (NASDAQ:PACH - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 723,060 shares of the company's stock, valued at approximately $7,202,000. Clear Street Group Inc. owned approximately 2.29% of Pioneer Acquisition I as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deltec Asset Management LLC acquired a new stake in Pioneer Acquisition I during the third quarter valued at approximately $99,000. Gritstone Asset Management LLC acquired a new position in shares of Pioneer Acquisition I in the 3rd quarter worth approximately $690,000. Boothbay Fund Management LLC acquired a new position in shares of Pioneer Acquisition I in the 3rd quarter worth approximately $830,000. ATW Spac Management LLC bought a new stake in shares of Pioneer Acquisition I in the 3rd quarter valued at approximately $831,000. Finally, Dakota Wealth Management acquired a new stake in shares of Pioneer Acquisition I during the 3rd quarter valued at approximately $1,083,000.

Analyst Ratings Changes

Several brokerages recently issued reports on PACH. Wall Street Zen cut Pioneer Acquisition I from a "hold" rating to a "sell" rating in a research note on Sunday, November 16th. Weiss Ratings reiterated a "sell (e)" rating on shares of Pioneer Acquisition I in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of "Sell".

Pioneer Acquisition I Stock Performance

Shares of PACH stock opened at $10.18 on Friday. The business has a 50 day moving average of $10.11 and a two-hundred day moving average of $10.06. Pioneer Acquisition I Corp. has a 52 week low of $9.94 and a 52 week high of $10.19.

Pioneer Acquisition I Company Profile

Pioneer Acquisition I NASDAQ: PACH is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I's activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.

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