Picton Mahoney Asset Management Invests $4.98 Million in Pioneer Acquisition I Corp. $PACH

Picton Mahoney Asset Management acquired a new position in shares of Pioneer Acquisition I Corp. (NASDAQ:PACH) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 500,000 shares of the company’s stock, valued at approximately $4,975,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Deltec Asset Management LLC acquired a new stake in Pioneer Acquisition I during the 3rd quarter valued at $99,000. Gritstone Asset Management LLC acquired a new position in shares of Pioneer Acquisition I in the third quarter worth $690,000. Dakota Wealth Management purchased a new stake in shares of Pioneer Acquisition I in the third quarter valued at $1,083,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Pioneer Acquisition I during the third quarter valued at $6,731,000.

Pioneer Acquisition I Stock Performance

PACH stock opened at $10.13 on Thursday. Pioneer Acquisition I Corp. has a 52-week low of $9.94 and a 52-week high of $10.16. The stock’s fifty day simple moving average is $10.10 and its 200-day simple moving average is $10.05.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reiterated a “sell (e)” rating on shares of Pioneer Acquisition I in a research report on Monday, December 29th. Wall Street Zen cut shares of Pioneer Acquisition I from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Pioneer Acquisition I presently has a consensus rating of “Sell”.

Pioneer Acquisition I Profile

Pioneer Acquisition I (NASDAQ: PACH) is a publicly traded special purpose acquisition company (SPAC), commonly known as a blank-check company. Like other SPACs, its principal business purpose is to identify, negotiate and complete a business combination with one or more operating companies. Until a qualifying transaction is completed, the entity typically has no substantive operating business of its own and holds capital raised from public investors in trust.

As a SPAC, Pioneer Acquisition I’s activities generally include sourcing potential targets, conducting due diligence, negotiating transaction terms, and seeking shareholder approval for any proposed business combination.