AlphaVest Acquisition (NASDAQ:ATMV) Shares Up 6.5% – Should You Buy?

AlphaVest Acquisition Corp. (NASDAQ:ATMV)’s stock price was up 6.5% on Tuesday . The stock traded as high as $11.64 and last traded at $11.18. Approximately 2,062 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 67,171 shares. The stock had previously closed at $10.50.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AlphaVest Acquisition in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

AlphaVest Acquisition Stock Performance

The company has a 50 day moving average price of $12.95 and a 200 day moving average price of $12.17.

Institutional Trading of AlphaVest Acquisition

A number of hedge funds have recently modified their holdings of the stock. Berkley W R Corp grew its stake in AlphaVest Acquisition by 23.7% in the 2nd quarter. Berkley W R Corp now owns 233,745 shares of the company’s stock valued at $2,749,000 after buying an additional 44,730 shares during the last quarter. Clear Street LLC boosted its holdings in shares of AlphaVest Acquisition by 96.1% during the second quarter. Clear Street LLC now owns 21,671 shares of the company’s stock worth $255,000 after acquiring an additional 10,620 shares during the period. Finally, Quarry LP acquired a new position in shares of AlphaVest Acquisition in the first quarter valued at approximately $568,000. Institutional investors and hedge funds own 46.08% of the company’s stock.

AlphaVest Acquisition Company Profile

AlphaVest Acquisition Corp does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2022 and is based in New York, New York.