A Paradise Acquisition (NASDAQ:APAD) Stock Price Up 0.3% – Here’s Why

A Paradise Acquisition Corp. (NASDAQ:APAD) shot up 0.3% during mid-day trading on Thursday . The stock traded as high as $10.15 and last traded at $10.15. 16,739 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 62,785 shares. The stock had previously closed at $10.12.

Analyst Ratings Changes

Separately, Weiss Ratings started coverage on A Paradise Acquisition in a report on Monday, January 26th. They set a “sell (e)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat, A Paradise Acquisition currently has a consensus rating of “Sell”.

A Paradise Acquisition Price Performance

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of A Paradise Acquisition during the 4th quarter valued at approximately $9,824,000. Highbridge Capital Management LLC bought a new stake in A Paradise Acquisition during the fourth quarter valued at $8,888,000. Magnetar Financial LLC acquired a new stake in shares of A Paradise Acquisition during the fourth quarter worth $8,040,000. Wealthspring Capital LLC bought a new position in shares of A Paradise Acquisition in the 4th quarter worth about $6,911,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of A Paradise Acquisition in the 4th quarter valued at about $4,020,000.

About A Paradise Acquisition

A Paradise Acquisition (NASDAQ: APAD) is a special-purpose acquisition company (SPAC), commonly referred to as a blank‑check company, that was formed to raise capital through a public listing with the purpose of effecting a business combination. As a SPAC, it does not operate an ongoing commercial business; instead, its primary activity is to identify, negotiate and complete a merger, share exchange, asset acquisition, recapitalization or other business combination with one or more target companies.

Like other acquisition companies, A Paradise Acquisition’s typical activities include sourcing potential targets, conducting due diligence and arranging the financing structures needed to complete a transaction.