D. Boral ARC Acquisition I (NASDAQ:XLAB) Stock Price Up 1.4% – Here’s What Happened

D. Boral ARC Acquisition I Corp. (NASDAQ:XLAB)’s share price shot up 1.4% on Monday. The company traded as high as $5.90 and last traded at $4.7850. 522,932 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 557,522 shares. The stock had previously closed at $4.72.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised D. Boral ARC Acquisition I from a “sell (e)” rating to a “sell (d-)” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

D. Boral ARC Acquisition I Stock Down 10.6%

The stock’s fifty day simple moving average is $6.01 and its 200-day simple moving average is $9.44.

D. Boral ARC Acquisition I (NASDAQ:XLAB) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.05 earnings per share for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Harraden Circle Investments LLC lifted its holdings in shares of D. Boral ARC Acquisition I by 23.9% during the second quarter. Harraden Circle Investments LLC now owns 2,643,991 shares of the company’s stock worth $27,577,000 after purchasing an additional 510,137 shares during the period. FNY Investment Advisers LLC increased its holdings in D. Boral ARC Acquisition I by 218.6% in the 2nd quarter. FNY Investment Advisers LLC now owns 288,889 shares of the company’s stock worth $3,013,000 after buying an additional 198,218 shares during the period. Bank of America Corp DE purchased a new position in D. Boral ARC Acquisition I during the 1st quarter worth approximately $1,012,000. Readystate Asset Management LP purchased a new position in D. Boral ARC Acquisition I during the 1st quarter worth approximately $1,012,000. Finally, Berkley W R Corp lifted its stake in D. Boral ARC Acquisition I by 1.7% during the 1st quarter. Berkley W R Corp now owns 226,854 shares of the company’s stock valued at $2,296,000 after acquiring an additional 3,686 shares during the period.

D. Boral ARC Acquisition I Company Profile

D. Boral ARC Acquisition I is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. Potential transactions may include a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar transaction.

As a blank-check company, D. Boral ARC Acquisition I does not have established operating products or services of its own. Its activities are primarily focused on evaluating potential acquisition targets and pursuing a suitable transaction, subject to shareholder approval and other customary conditions.

Limited publicly available information is available regarding the company’s target industry, geographic focus, operating history, and leadership.