Drugs Made In America Acquisition (NASDAQ:DMAA) Shares Up 0.1% - Here's What Happened

Key Points

• DMAA shares rose 0.1% to $10.84 in light trading, with 1,551 shares changing hands—97% below the average session volume.
• Weiss Ratings reaffirmed its “Sell” rating, and the stock has an overall average rating of “Sell” from one analyst.
• Several institutional investors increased or initiated positions, while the SPAC reported quarterly EPS of $0.06 and continues seeking a merger or acquisition in the pharmaceutical and healthcare sectors.

Drugs Made In America Acquisition Corp. (NASDAQ:DMAA - Get Free Report) shares rose 0.1% on Tuesday . The company traded as high as $10.84 and last traded at $10.84. Approximately 1,551 shares traded hands during trading, a decline of 97% from the average session volume of 48,260 shares. The stock had previously closed at $10.83.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Drugs Made In America Acquisition in a report on Wednesday, August 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Drugs Made In America Acquisition has an average rating of "Sell".

Drugs Made In America Acquisition Trading Up 0.1%

The stock has a fifty day moving average of $10.72 and a 200 day moving average of $10.62.

Drugs Made In America Acquisition (NASDAQ:DMAA - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.06 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Drugs Made In America Acquisition

Institutional investors have recently added to or reduced their stakes in the stock. Radcliffe Capital Management L.P. increased its holdings in Drugs Made In America Acquisition by 3.5% during the fourth quarter. Radcliffe Capital Management L.P. now owns 546,808 shares of the company's stock worth $5,673,000 after buying an additional 18,708 shares during the last quarter. Lineage Point Capital LP purchased a new position in Drugs Made In America Acquisition in the fourth quarter valued at about $330,000. Clear Street Group Inc. boosted its stake in Drugs Made In America Acquisition by 55.5% in the fourth quarter. Clear Street Group Inc. now owns 325,973 shares of the company's stock valued at $3,382,000 after acquiring an additional 116,407 shares during the last quarter. Sona Asset Management US LLC bought a new position in shares of Drugs Made In America Acquisition during the 1st quarter valued at approximately $1,706,000. Finally, L1 Global Manager Pty Ltd bought a new position in shares of Drugs Made In America Acquisition during the 4th quarter valued at approximately $2,075,000.

Drugs Made In America Acquisition Company Profile

Drugs Made In America Acquisition Corp. NASDAQ: DMAA is a special purpose acquisition company, or SPAC. The company was formed to identify and complete a merger, acquisition, or similar business combination with an operating company.

Its stated focus is on businesses in the pharmaceutical, healthcare, and related life sciences sectors, particularly companies involved in the development, manufacturing, or distribution of products in the United States. Unlike an operating pharmaceutical company, Drugs Made In America Acquisition Corp.

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