Tavia Acquisition (NASDAQ:TAVI) Shares Down 0.1% - Here's Why

Key Points

• Shares traded down 0.1% to $10.60 on Friday with just 120 shares changing hands—about a 93% drop from average volume—indicating very thin trading.
• Analyst sentiment is negative: Weiss Ratings reiterated a Sell and the MarketBeat consensus rating is also Sell.
• Several hedge funds (including Moore Capital, Radcliffe, ABC Arbitrage, Concurrent and Clear Street) recently initiated positions, and Tavia is a blank-check company (a SPAC) founded March 7, 2024.

Shares of Tavia Acquisition Corp. (NASDAQ:TAVI - Get Free Report) traded down 0.1% during trading on Friday . The company traded as low as $10.61 and last traded at $10.60. 120 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,745 shares. The stock had previously closed at $10.61.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Tavia Acquisition in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Tavia Acquisition Price Performance

The stock's 50-day moving average price is $10.55 and its two-hundred day moving average price is $10.48.

Institutional Trading of Tavia Acquisition

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Clear Street Group Inc. bought a new position in Tavia Acquisition in the 3rd quarter worth about $25,000. Concurrent Investment Advisors LLC bought a new position in Tavia Acquisition during the 3rd quarter valued at about $119,000. ABC Arbitrage SA bought a new position in Tavia Acquisition during the 4th quarter valued at about $163,000. Radcliffe Capital Management L.P. bought a new position in Tavia Acquisition during the 2nd quarter valued at about $224,000. Finally, Moore Capital Management LP bought a new position in Tavia Acquisition during the 2nd quarter valued at about $514,000.

About Tavia Acquisition

Tavia Acquisition Corp. is a blank check company, which engages in the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was founded on March 7, 2024 and is headquartered in Newark, DE.

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