Radcliffe Capital Management L.P. Makes New Investment in Crown Reserve Acquisition Corp. I $CRAC

Radcliffe Capital Management L.P. acquired a new stake in Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 350,000 shares of the company’s stock, valued at approximately $3,479,000.

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC purchased a new position in shares of Crown Reserve Acquisition Corp. I in the 4th quarter worth approximately $534,000. Wolverine Asset Management LLC purchased a new stake in shares of Crown Reserve Acquisition Corp. I during the fourth quarter valued at approximately $928,000. Berkley W R Corp purchased a new stake in shares of Crown Reserve Acquisition Corp. I during the fourth quarter valued at approximately $2,321,000. Clear Street Group Inc. bought a new stake in Crown Reserve Acquisition Corp. I during the fourth quarter worth $2,335,000. Finally, Periscope Capital Inc. purchased a new position in Crown Reserve Acquisition Corp. I in the fourth quarter worth $2,458,000.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Crown Reserve Acquisition Corp. I from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Crown Reserve Acquisition Corp. I Stock Performance

Shares of CRAC stock opened at $10.12 on Wednesday. Crown Reserve Acquisition Corp. I has a 52 week low of $9.89 and a 52 week high of $10.12. The stock has a 50-day moving average of $10.08.

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) last released its earnings results on Friday, May 15th. The company reported ($0.01) earnings per share for the quarter.

Crown Reserve Acquisition Corp. I Profile

Crown Reserve Acquisition Corp. I (NASDAQ: CRAC) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank‑check vehicle, the company was formed to raise capital through a public offering with the primary aim of identifying, negotiating and completing a business combination with one or more operating businesses. Prior to consummation of a qualifying transaction, Crown Reserve Acquisition Corp. I does not engage in substantive commercial operations beyond the activities necessary to carry out its formation and capital‑raising objectives.

The company’s principal activities include managing proceeds raised in its initial public offering, maintaining those funds in trust accounts, conducting due diligence on prospective targets and pursuing mergers, acquisitions or other strategic combinations that would enable the combined entity to become an operating public company.