Freedom Acquisition I (NASDAQ:FACT) Stock Price Down 0.1% - Time to Sell?

Key Points

• Freedom Acquisition I shares fell 0.1% to $10.66 in extremely light trading, with only about 130 shares changing hands versus an average daily volume of 84,663.
• Weiss Ratings reiterated a “sell (d)” rating, and the sole covering analyst maintains a Sell recommendation. The company reported quarterly earnings of $0.04 per share.
• Institutional investors own 55.82% of the stock, while several firms increased their positions. Freedom Acquisition I has no significant operations and is focused on completing a business combination.

Freedom Acquisition I Corp. (NASDAQ:FACT - Get Free Report)'s share price dropped 0.1% during trading on Monday . The company traded as low as $10.66 and last traded at $10.66. Approximately 130 shares changed hands during mid-day trading, a decline of 100% from the average daily volume of 84,663 shares. The stock had previously closed at $10.67.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Freedom Acquisition I in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Sell".

Freedom Acquisition I Price Performance

The business's 50-day simple moving average is $10.65 and its 200 day simple moving average is $10.57.

Freedom Acquisition I (NASDAQ:FACT - Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported $0.04 earnings per share for the quarter.

Hedge Funds Weigh In On Freedom Acquisition I

Institutional investors have recently made changes to their positions in the business. Berkley W R Corp boosted its holdings in shares of Freedom Acquisition I by 14.2% in the first quarter. Berkley W R Corp now owns 325,445 shares of the company's stock worth $3,417,000 after buying an additional 40,363 shares during the last quarter. Rangeley Capital LLC bought a new position in Freedom Acquisition I in the first quarter worth approximately $163,000. Toronto Dominion Bank bought a new position in Freedom Acquisition I in the fourth quarter worth approximately $4,148,000. Rivernorth Capital Management LLC boosted its stake in shares of Freedom Acquisition I by 28.0% during the 4th quarter. Rivernorth Capital Management LLC now owns 499,023 shares of the company's stock worth $5,195,000 after acquiring an additional 109,023 shares during the last quarter. Finally, Radcliffe Capital Management L.P. boosted its stake in shares of Freedom Acquisition I by 4.7% during the 4th quarter. Radcliffe Capital Management L.P. now owns 523,289 shares of the company's stock worth $5,447,000 after acquiring an additional 23,289 shares during the last quarter. Institutional investors own 55.82% of the company's stock.

Freedom Acquisition I Company Profile

Freedom Acquisition I Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses. Freedom Acquisition I Corp. was incorporated in 2020 and is based in New York, New York.

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