Accelevation (NASDAQ:ACCV) Stock Price Up 7.9% – Still a Buy?
by Renee Jackson · The Cerbat GemAccelevation Holdings Corp. (NASDAQ:ACCV – Get Free Report)’s share price traded up 7.9% during mid-day trading on Wednesday. The company traded as high as $13.29 and last traded at $13.28. 265,836 shares changed hands during trading, a decline of 87% from the average daily volume of 2,087,744 shares. The stock had previously closed at $12.31.
Analyst Upgrades and Downgrades
Separately, Wall Street Zen upgraded shares of Accelevation to a “hold” rating in a report on Saturday, October 10th.
Accelevation Price Performance
Insiders Place Their Bets
In other news, COO Brent Jewell acquired 2,500 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was acquired at an average price of $18.00 per share, for a total transaction of $45,000.00. Following the completion of the acquisition, the chief operating officer owned 304,068 shares in the company, valued at $5,473,224. This trade represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Howard Heckes acquired 5,000 shares of the stock in a transaction on Thursday, October 1st. The shares were purchased at an average cost of $18.00 per share, with a total value of $90,000.00. Following the transaction, the director directly owned 5,000 shares of the company’s stock, valued at approximately $90,000. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 227,700 shares of company stock valued at $4,098,600 in the last 90 days.
Accelevation Company Profile
Accelevation Corporation (NASDAQ: ACCV) is a special purpose acquisition company (SPAC) formed to identify and combine with an operating business through a merger, share exchange, asset acquisition, reorganization or similar transaction.
Unlike an operating company, Accelevation does not manufacture products, provide ongoing commercial services or conduct significant business activities of its own. Its primary activities have consisted of evaluating potential acquisition targets and pursuing a business combination.
Public information about Accelevation’s operating history, geographic footprint and leadership is limited.