P Schoenfeld Asset Management LP Makes New $1.46 Million Investment in Powered Brands (NASDAQ:POW)

P Schoenfeld Asset Management LP purchased a new stake in shares of Powered Brands (NASDAQ:POW) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 150,000 shares of the company’s stock, valued at approximately $1,455,000.

Other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. purchased a new position in shares of Powered Brands during the 1st quarter valued at $163,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Powered Brands during the 1st quarter valued at $172,000. Basso Capital Management L.P. purchased a new position in shares of Powered Brands during the 1st quarter valued at $181,000. Ramius Advisors LLC purchased a new position in shares of Powered Brands during the 2nd quarter valued at $196,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Powered Brands during the 1st quarter valued at $242,000. Institutional investors and hedge funds own 62.89% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Powered Brands from $44.00 to $45.00 and gave the stock a “sector perform” rating in a report on Monday, August 9th. BMO Capital Markets upped their price objective on shares of Powered Brands from $39.00 to $41.00 and gave the stock a “market perform” rating in a report on Monday, July 26th.

Powered Brands stock traded up $0.06 on Monday, reaching $9.80. 800 shares of the stock were exchanged, compared to its average volume of 19,143. Powered Brands has a twelve month low of $8.76 and a twelve month high of $10.05. The company’s fifty day moving average is $9.70.

Powered Brands Profile

Powered Brands does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.

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Institutional Ownership by Quarter for Powered Brands (NASDAQ:POW)

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