Sona Asset Management US LLC Purchases Shares of 200,000 Crown Reserve Acquisition Corp. I $CRAC

Key Points

• Sona Asset Management US LLC acquired 200,000 shares of Crown Reserve Acquisition Corp. I, valued at approximately $2.0 million and representing about 0.93% of the company.
• Several other institutional investors, including Geode Capital Management, Wolverine Asset Management and Berkley W R Corp., also established new positions in the SPAC during the fourth quarter.
• CRAC shares opened at $10.14, near their 12-month high of $10.15, while the stock retains an average “Sell” rating and reported a quarterly loss of $0.01 per share.

Sona Asset Management US LLC acquired a new position in shares of Crown Reserve Acquisition Corp. I (NASDAQ:CRAC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200,000 shares of the company's stock, valued at approximately $2,002,000. Sona Asset Management US LLC owned approximately 0.93% of Crown Reserve Acquisition Corp. I at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC acquired a new stake in shares of Crown Reserve Acquisition Corp. I in the 4th quarter valued at $534,000. Wolverine Asset Management LLC acquired a new stake in shares of Crown Reserve Acquisition Corp. I during the 4th quarter worth about $928,000. Boothbay Fund Management LLC bought a new position in Crown Reserve Acquisition Corp. I during the 4th quarter valued at about $1,118,000. Heights Capital Management Inc. bought a new position in Crown Reserve Acquisition Corp. I during the 4th quarter valued at about $1,988,000. Finally, Berkley W R Corp acquired a new position in Crown Reserve Acquisition Corp. I in the fourth quarter valued at about $2,321,000.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Crown Reserve Acquisition Corp. I from a "sell (e)" rating to a "sell (e+)" rating in a report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of "Sell".

Crown Reserve Acquisition Corp. I Price Performance

Shares of NASDAQ:CRAC opened at $10.14 on Monday. The firm has a fifty day simple moving average of $10.11. Crown Reserve Acquisition Corp. I has a twelve month low of $9.89 and a twelve month high of $10.15.

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC - Get Free Report) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter.

About Crown Reserve Acquisition Corp. I

Crown Reserve Acquisition Corp. I NASDAQ: CRAC is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank‑check vehicle, the company was formed to raise capital through a public offering with the primary aim of identifying, negotiating and completing a business combination with one or more operating businesses. Prior to consummation of a qualifying transaction, Crown Reserve Acquisition Corp. I does not engage in substantive commercial operations beyond the activities necessary to carry out its formation and capital‑raising objectives.

The company's principal activities include managing proceeds raised in its initial public offering, maintaining those funds in trust accounts, conducting due diligence on prospective targets and pursuing mergers, acquisitions or other strategic combinations that would enable the combined entity to become an operating public company.

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