Mangrove Partners IM LLC Sells 107,038 Shares of BEST SPAC I Acquisition Corp. $BSAA

Mangrove Partners IM LLC trimmed its holdings in BEST SPAC I Acquisition Corp. (NASDAQ:BSAA) by 39.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 163,810 shares of the company’s stock after selling 107,038 shares during the quarter. Mangrove Partners IM LLC owned approximately 2.21% of BEST SPAC I Acquisition worth $1,659,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Berkley W R Corp boosted its stake in BEST SPAC I Acquisition by 8.9% in the 4th quarter. Berkley W R Corp now owns 325,255 shares of the company’s stock worth $3,285,000 after purchasing an additional 26,672 shares during the period. Westchester Capital Management LLC bought a new position in shares of BEST SPAC I Acquisition during the 4th quarter valued at approximately $506,000. L1 Global Manager Pty Ltd bought a new position in shares of BEST SPAC I Acquisition during the 4th quarter valued at approximately $506,000. Glazer Capital LLC boosted its position in shares of BEST SPAC I Acquisition by 36.3% during the 4th quarter. Glazer Capital LLC now owns 203,308 shares of the company’s stock valued at $2,053,000 after acquiring an additional 54,136 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its position in shares of BEST SPAC I Acquisition by 39.8% during the 4th quarter. Wolverine Asset Management LLC now owns 525,982 shares of the company’s stock valued at $5,328,000 after acquiring an additional 149,612 shares during the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded BEST SPAC I Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

BEST SPAC I Acquisition Stock Down 2.3%

NASDAQ BSAA opened at $14.76 on Wednesday. BEST SPAC I Acquisition Corp. has a one year low of $9.82 and a one year high of $17.20. The firm’s 50 day moving average price is $11.07.

BEST SPAC I Acquisition (NASDAQ:BSAA) last posted its earnings results on Tuesday, April 28th. The company reported $0.10 EPS for the quarter.

BEST SPAC I Acquisition Company Profile

BEST SPAC I Acquisition Corp. (NASDAQ: BSAA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and merge with one or more operating businesses. As a blank‑check company listed on the Nasdaq, its primary business activity is to seek a business combination that will result in the target becoming a publicly traded company through the SPAC vehicle.

Like other SPACs, BEST SPAC I is structured to raise capital from public investors and hold the proceeds in trust while management evaluates potential acquisition targets.