Arogo Capital Acquisition (NASDAQ:AOGO) Shares Down 25.8% – Time to Sell?

Shares of Arogo Capital Acquisition Corp. (NASDAQ:AOGO) dropped 25.8% during trading on Wednesday . The stock traded as low as $12.62 and last traded at $12.62. Approximately 432 shares traded hands during trading, a decline of 76% from the average daily volume of 1,829 shares. The stock had previously closed at $17.00.

Arogo Capital Acquisition Stock Performance

The stock’s 50 day simple moving average is $13.36 and its two-hundred day simple moving average is $11.83.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Arogo Capital Acquisition stock. Flow Traders U.S. LLC raised its position in Arogo Capital Acquisition Corp. (NASDAQ:AOGO) by 75.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,707 shares of the company’s stock after purchasing an additional 9,333 shares during the quarter. Flow Traders U.S. LLC owned 0.50% of Arogo Capital Acquisition worth $238,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 41.63% of the company’s stock.

Arogo Capital Acquisition Company Profile

Arogo Capital Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to focus on businesses in transportation and technology industries within the electric vehicles technology, smart mobility, or sustainable transportation.