Sona Asset Management US LLC Acquires Shares of 111,059 Pioneer Acquisition I Corp. $PACH

Sona Asset Management US LLC bought a new position in Pioneer Acquisition I Corp. (NASDAQ:PACH) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 111,059 shares of the company’s stock, valued at approximately $1,125,000. Sona Asset Management US LLC owned approximately 0.39% of Pioneer Acquisition I as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. MMCAP International Inc. SPC purchased a new stake in shares of Pioneer Acquisition I during the fourth quarter worth $7,538,000. Lineage Point Capital LP acquired a new stake in Pioneer Acquisition I during the fourth quarter valued at $1,073,000. Mint Tower Capital Management B.V. purchased a new position in Pioneer Acquisition I in the fourth quarter valued at about $4,020,000. Magnetar Financial LLC purchased a new position in Pioneer Acquisition I in the fourth quarter valued at about $10,060,000. Finally, ABC Arbitrage SA acquired a new position in Pioneer Acquisition I in the 4th quarter worth about $251,000.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Pioneer Acquisition I from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Pioneer Acquisition I Stock Performance

Shares of PACH opened at $10.27 on Monday. The company’s fifty day moving average is $10.24 and its 200-day moving average is $10.18. Pioneer Acquisition I Corp. has a 12 month low of $9.94 and a 12 month high of $10.29.

Pioneer Acquisition I (NASDAQ:PACH) last released its quarterly earnings results on Friday, May 15th. The company reported $0.06 earnings per share for the quarter.

Pioneer Acquisition I Company 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.