Sona Asset Management US LLC Acquires New Shares in Axiom Intelligence Acquisition Corp 1 $AXIN

Key Points

• Sona Asset Management US LLC acquired 449,649 shares of Axiom Intelligence Acquisition Corp 1, valued at approximately $4.6 million and representing about 1.65% of the company.
• Several other institutional investors, including TIG Advisors and Readystate Asset Management, also established new positions during the fourth quarter.
• AXIN carries an average Sell rating from analysts. The stock recently opened at $10.29, within its 52-week range of $9.93 to $10.45, while the company reported quarterly earnings of $0.06 per share.

Sona Asset Management US LLC acquired a new position in shares of Axiom Intelligence Acquisition Corp 1 (NASDAQ:AXIN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 449,649 shares of the company's stock, valued at approximately $4,555,000. Sona Asset Management US LLC owned approximately 1.65% of Axiom Intelligence Acquisition Corp 1 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. ABC Arbitrage SA bought a new stake in shares of Axiom Intelligence Acquisition Corp 1 during the fourth quarter valued at about $352,000. Heights Capital Management Inc. bought a new position in shares of Axiom Intelligence Acquisition Corp 1 in the fourth quarter valued at approximately $504,000. Tudor Investment Corp ET AL bought a new position in shares of Axiom Intelligence Acquisition Corp 1 in the fourth quarter valued at approximately $1,018,000. Readystate Asset Management LP purchased a new position in Axiom Intelligence Acquisition Corp 1 during the fourth quarter valued at approximately $1,762,000. Finally, TIG Advisors LLC purchased a new position in Axiom Intelligence Acquisition Corp 1 during the fourth quarter valued at approximately $3,018,000.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Axiom Intelligence Acquisition Corp 1 from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of "Sell".

Axiom Intelligence Acquisition Corp 1 Price Performance

Axiom Intelligence Acquisition Corp 1 stock opened at $10.29 on Monday. The business's 50-day simple moving average is $10.33. Axiom Intelligence Acquisition Corp 1 has a 52 week low of $9.93 and a 52 week high of $10.45.

Axiom Intelligence Acquisition Corp 1 (NASDAQ:AXIN - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.06 earnings per share for the quarter.

Axiom Intelligence Acquisition Corp 1 Profile

Axiom Intelligence Acquisition Corp 1 NASDAQ: AXIN is a special purpose acquisition company (SPAC) listed on the NASDAQ. As a blank‑check company, its primary purpose is to raise capital through a public offering and to identify, negotiate and complete a business combination or similar transaction with one or more operating businesses. The company itself does not conduct traditional operating activities prior to a completed business combination.

Typical activities for a SPAC like Axiom Intelligence Acquisition Corp 1 include sourcing potential acquisition targets, performing due diligence, structuring a merger or acquisition, and providing a vehicle through which private companies can access public markets.

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