Freedom Acquisition I (NASDAQ:FACT) Issues Quarterly Earnings Results

Freedom Acquisition I (NASDAQ:FACT) announced its earnings results on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, FiscalAI reports.

Freedom Acquisition I Price Performance

Shares of FACT stock remained flat at $10.80 on Thursday. The company had a trading volume of 15 shares, compared to its average volume of 94,724. Freedom Acquisition I has a 12-month low of $10.33 and a 12-month high of $10.81. The business has a 50 day moving average price of $10.74 and a 200 day moving average price of $10.62.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Context Capital Management LLC bought a new position in shares of Freedom Acquisition I during the third quarter valued at approximately $2,148,000. SkyView Investment Advisors LLC purchased a new position in Freedom Acquisition I during the second quarter valued at approximately $532,000. Alberta Investment Management Corp bought a new position in Freedom Acquisition I in the third quarter worth approximately $2,680,000. Citadel Advisors LLC bought a new position in Freedom Acquisition I in the second quarter worth approximately $204,000. Finally, Berkley W R Corp raised its stake in Freedom Acquisition I by 14.2% in the first quarter. Berkley W R Corp now owns 325,445 shares of the company’s stock worth $3,417,000 after buying an additional 40,363 shares in the last quarter. Hedge funds and other institutional investors own 55.82% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Freedom Acquisition I in a research note on Wednesday. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Freedom Acquisition I has an average rating of “Sell”.

Freedom Acquisition I Company Profile

Freedom Acquisition I Corp. was a special purpose acquisition company (SPAC), formed to pursue a merger, asset acquisition, share exchange or similar business combination with another company. It did not have significant operating activities of its own while seeking a transaction. In 2023, Freedom Acquisition I completed a business combination with Complete Solaria, a provider of residential solar technology and services. The combined business operated as Complete Solaria, Inc., bringing solar products and related services to customers.