Mangrove Partners IM LLC Makes New Investment in Pioneer Acquisition I Corp. $PACH

Mangrove Partners IM LLC bought a new position in shares of Pioneer Acquisition I Corp. (NASDAQ:PACH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 450,000 shares of the company’s stock, valued at approximately $4,482,000. Mangrove Partners IM LLC owned about 1.42% of Pioneer Acquisition I at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Deltec Asset Management LLC bought a new position in shares of Pioneer Acquisition I in the third quarter worth about $99,000. Gritstone Asset Management LLC purchased a new position in Pioneer Acquisition I in the 3rd quarter worth about $690,000. ATW Spac Management LLC bought a new stake in Pioneer Acquisition I during the 3rd quarter valued at about $831,000. Dakota Wealth Management bought a new stake in Pioneer Acquisition I during the 3rd quarter valued at about $1,083,000. Finally, Context Capital Management LLC bought a new stake in Pioneer Acquisition I during the 3rd quarter valued at about $1,492,000.

Pioneer Acquisition I Price Performance

PACH opened at $10.18 on Friday. Pioneer Acquisition I Corp. has a 12-month low of $9.94 and a 12-month high of $10.19. The business’s fifty day simple moving average is $10.11 and its 200-day simple moving average is $10.06.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PACH shares. Wall Street Zen downgraded shares of Pioneer Acquisition I from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Pioneer Acquisition I in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average 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.