AlphaVest Acquisition (NASDAQ:ATMV) Major Shareholder Sells $39,613.90 in Stock

AlphaVest Acquisition Corp. (NASDAQ:ATMV) major shareholder Harraden Circle Investments, L sold 4,451 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $8.90, for a total value of $39,613.90. Following the completion of the transaction, the insider directly owned 545,549 shares of the company’s stock, valued at $4,855,386.10. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Harraden Circle Investments, L also recently made the following trade(s):

• On Tuesday, December 9th, Harraden Circle Investments, L sold 133,722 shares of AlphaVest Acquisition stock. The shares were sold at an average price of $14.27, for a total transaction of $1,908,212.94.
• On Monday, December 8th, Harraden Circle Investments, L sold 82,002 shares of AlphaVest Acquisition stock. The stock was sold at an average price of $13.86, for a total transaction of $1,136,547.72.

AlphaVest Acquisition Stock Performance

ATMV traded up $2.46 during trading on Tuesday, reaching $10.30. The stock had a trading volume of 12,607,150 shares, compared to its average volume of 183,685. The stock has a 50 day moving average of $8.94 and a two-hundred day moving average of $11.24. AlphaVest Acquisition Corp. has a 1-year low of $5.43 and a 1-year high of $42.00.

AlphaVest Acquisition (NASDAQ:ATMV) last issued its quarterly earnings results on Wednesday, November 19th. The company reported ($0.73) EPS for the quarter. The business had revenue of $0.17 million for the quarter.

Hedge Funds Weigh In On AlphaVest Acquisition

A number of hedge funds have recently modified their holdings of the stock. Clear Street LLC raised its stake in shares of AlphaVest Acquisition by 96.1% during the 2nd quarter. Clear Street LLC now owns 21,671 shares of the company’s stock worth $255,000 after purchasing an additional 10,620 shares in the last quarter. Quarry LP acquired a new stake in shares of AlphaVest Acquisition in the 1st quarter valued at $568,000. Harraden Circle Investments LLC bought a new stake in AlphaVest Acquisition in the third quarter worth $762,000. Clear Street Group Inc. bought a new stake in AlphaVest Acquisition in the third quarter worth $1,842,000. Finally, Berkley W R Corp increased its position in AlphaVest Acquisition by 23.7% during the second quarter. Berkley W R Corp now owns 233,745 shares of the company’s stock worth $2,749,000 after buying an additional 44,730 shares during the last quarter. 46.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of AlphaVest Acquisition in a research report on Monday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

About AlphaVest Acquisition

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.