Valuence Merger Corp. I (NASDAQ:VMCA) Shares Up 0.3% – Should You Buy?

Shares of Valuence Merger Corp. I (NASDAQ:VMCA) rose 0.3% during mid-day trading on Monday . The stock traded as high as $11.55 and last traded at $11.55. Approximately 1,000 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 3,000 shares. The stock had previously closed at $11.52.

Valuence Merger Corp. I Trading Up 0.3 %

The company has a 50 day simple moving average of $11.52 and a 200 day simple moving average of $11.50. The stock has a market capitalization of $85.12 million, a PE ratio of 72.19 and a beta of 0.01.

Institutional Investors Weigh In On Valuence Merger Corp. I

Hedge funds have recently modified their holdings of the stock. Clear Street LLC purchased a new position in Valuence Merger Corp. I during the 2nd quarter worth $170,000. Condor Capital Management acquired a new stake in Valuence Merger Corp. I in the second quarter valued at about $171,000. Finally, Logan Stone Capital LLC purchased a new stake in Valuence Merger Corp. I in the 2nd quarter valued at approximately $176,000. 52.21% of the stock is owned by institutional investors and hedge funds.

About Valuence Merger Corp. I

Valuence Merger Corp. I does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities in developing breakthrough technology in life sciences and/or advancing a platform for sustainable technology in Asia.