Freedom Acquisition I (NASDAQ:FACT) Stock Price Up 0.1% - Should You Buy?

Key Points

• FACT shares edged up 0.1% on Wednesday, trading at $10.63 after moving only slightly from the prior close of $10.62. Volume was extremely light at just 133 shares, far below its average daily volume.
• Analyst sentiment remains negative, with Weiss Ratings reiterating a "sell (d)" rating. MarketBeat shows the stock’s average rating is also "Sell."
• Freedom Acquisition I is a SPAC with no significant operations and is focused on completing a merger or similar business combination. The company reported quarterly EPS of $0.04 in its latest earnings release.

Freedom Acquisition I Corp. (NASDAQ:FACT - Get Free Report)'s stock price rose 0.1% during trading on Wednesday . The company traded as high as $10.63 and last traded at $10.63. Approximately 133 shares traded hands during trading, a decline of 100% from the average daily volume of 87,484 shares. The stock had previously closed at $10.62.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Freedom Acquisition I in a report on Monday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of "Sell".

Freedom Acquisition I Trading Up 0.1%

The business has a fifty day moving average price of $10.64 and a 200-day moving average price of $10.54.

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

Institutional Trading of Freedom Acquisition I

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