Charlton Aria Acquisition (NASDAQ:CHAR) Announces Earnings Results

Charlton Aria Acquisition (NASDAQ:CHAR) issued its quarterly earnings results on Thursday. The company reported $0.05 EPS for the quarter, FiscalAI reports.

Charlton Aria Acquisition Stock Down 0.1%

CHAR traded down $0.01 during trading on Friday, hitting $10.89. 10,448 shares of the stock traded hands, compared to its average volume of 18,841. The company has a 50-day moving average price of $10.81. Charlton Aria Acquisition has a 12-month low of $10.30 and a 12-month high of $11.00.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Charlton Aria Acquisition in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Charlton Aria Acquisition

Several hedge funds and other institutional investors have recently modified their holdings of the company. ABC Arbitrage SA purchased a new stake in shares of Charlton Aria Acquisition during the fourth quarter worth about $209,000. Glazer Capital LLC increased its holdings in Charlton Aria Acquisition by 5.3% during the 4th quarter. Glazer Capital LLC now owns 50,242 shares of the company’s stock valued at $526,000 after purchasing an additional 2,528 shares during the period. Sona Asset Management US LLC bought a new position in Charlton Aria Acquisition during the 1st quarter valued at approximately $1,058,000. Clear Street Group Inc. raised its position in Charlton Aria Acquisition by 277.6% during the 4th quarter. Clear Street Group Inc. now owns 116,977 shares of the company’s stock valued at $1,222,000 after purchasing an additional 86,000 shares during the last quarter. Finally, Berkley W R Corp lifted its holdings in Charlton Aria Acquisition by 19.4% in the 1st quarter. Berkley W R Corp now owns 878,975 shares of the company’s stock worth $9,304,000 after buying an additional 142,746 shares during the period.

Charlton Aria Acquisition Corp. (NASDAQ: CHAR) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank-check vehicle, its primary business purpose is to identify, negotiate and complete a business combination, merger, capital stock exchange, asset acquisition or similar transaction with one or more operating businesses. SPACs such as Charlton Aria raise capital through public offerings and seek to use those proceeds to acquire a private company and take it public through the combination.

Like other SPACs, Charlton Aria’s principal activities center on sourcing potential targets, conducting due diligence, negotiating transaction terms and securing shareholder and regulatory approvals for a proposed business combination.