Weiss Ratings Reiterates "Sell (D)" Rating for Launch One Acquisition (NASDAQ:LPAA)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D)" rating for Launch One Acquisition (NASDAQ:LPAA), indicating a negative outlook on the stock.
• The stock traded at $10.52, showing a marginal change with a 52-week trading range of $9.97 to $10.70.
• Institutional investors, including Wolverine Asset Management and Wealthspring Capital, have significantly increased their holdings in Launch One Acquisition in recent quarters.

Launch One Acquisition (NASDAQ:LPAA - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by analysts at Weiss Ratings in a report issued on Tuesday,Weiss Ratings reports.

Launch One Acquisition Trading Down 0.0%

NASDAQ:LPAA traded down $0.01 on Tuesday, hitting $10.52. 3,541 shares of the company's stock were exchanged, compared to its average volume of 45,024. The firm has a 50-day moving average price of $10.47 and a 200-day moving average price of $10.39. Launch One Acquisition has a 52 week low of $9.97 and a 52 week high of $10.70.

Institutional Investors Weigh In On Launch One Acquisition

Several institutional investors and hedge funds have recently added to or reduced their stakes in LPAA. Wolverine Asset Management LLC lifted its position in Launch One Acquisition by 32.3% during the 1st quarter. Wolverine Asset Management LLC now owns 675,755 shares of the company's stock worth $6,899,000 after buying an additional 164,864 shares in the last quarter. Mizuho Securities USA LLC bought a new stake in Launch One Acquisition during the 1st quarter worth about $2,791,000. Quarry LP bought a new stake in Launch One Acquisition during the 1st quarter worth about $1,532,000. Wealthspring Capital LLC lifted its position in Launch One Acquisition by 552.5% during the 2nd quarter. Wealthspring Capital LLC now owns 724,490 shares of the company's stock worth $7,546,000 after buying an additional 613,460 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in shares of Launch One Acquisition in the 2nd quarter valued at about $7,811,000.

About Launch One Acquisition

Launch One Acquisition Corp. is a blank check company. It formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Launch One Acquisition Corp. is based in New York.

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