ARC Group Acquisition I Corp (NASDAQ:ARCL – Get Free Report) was the recipient of a significant decrease in short interest in September. As of September 30th, there was short interest totaling 5,372 shares, a decrease of 44.3% from the September 15th total of 9,650 shares. Based on an average trading volume of 28,034 shares, the days-to-cover ratio is presently 0.2 days.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings initiated coverage on ARC Group Acquisition I in a report on Monday, August 24th. They issued a “sell (e)” rating for the company. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.
Read Our Latest Stock Report on ARC Group Acquisition I
ARC Group Acquisition I Trading Up 0.6%
ARCL opened at $10.04 on Friday. ARC Group Acquisition I has a one year low of $9.85 and a one year high of $10.02. The business’s fifty day moving average price is $9.99.
ARC Group Acquisition I Company Profile
ARC Group Acquisition I is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating companies. Its potential transaction could take the form of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar corporate combination.
Unlike an operating company, ARC Group Acquisition I does not have established products, services or revenue-generating business operations of its own. Its activities primarily involve evaluating potential acquisition targets and pursuing a transaction intended to create a publicly traded operating business.
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