Pegasus Digital Mobility Acquisition (NYSE:PGSS) Stock Price Down 7%

Shares of Pegasus Digital Mobility Acquisition Corp. (NYSE:PGSS) dropped 7% during trading on Wednesday . The company traded as low as $10.39 and last traded at $10.60. Approximately 18,755 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 48,933 shares. The stock had previously closed at $11.40.

Pegasus Digital Mobility Acquisition Price Performance

The business’s 50 day simple moving average is $11.22 and its 200 day simple moving average is $11.11.

Institutional Trading of Pegasus Digital Mobility Acquisition

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in Pegasus Digital Mobility Acquisition in the fourth quarter valued at $163,000. Susquehanna International Group LLP raised its position in shares of Pegasus Digital Mobility Acquisition by 48.9% in the fourth quarter. Susquehanna International Group LLP now owns 19,335 shares of the company’s stock valued at $199,000 after purchasing an additional 6,346 shares during the period. Spartan Fund Management Inc. bought a new position in shares of Pegasus Digital Mobility Acquisition in the fourth quarter valued at about $398,000. Verition Fund Management LLC raised its position in shares of Pegasus Digital Mobility Acquisition by 4.6% in the fourth quarter. Verition Fund Management LLC now owns 46,461 shares of the company’s stock valued at $478,000 after purchasing an additional 2,030 shares during the period. Finally, K2 Principal Fund L.P. bought a new position in shares of Pegasus Digital Mobility Acquisition in the fourth quarter valued at about $586,000. Institutional investors and hedge funds own 46.03% of the company’s stock.

About Pegasus Digital Mobility Acquisition

Pegasus Digital Mobility Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to identify potential business combination targets in the transportation sector.