Context Capital Management LLC Has $2.01 Million Stake in Indigo Acquisition Corp. $INAC

Context Capital Management LLC lowered its stake in Indigo Acquisition Corp. (NASDAQ:INAC) by 33.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the company’s stock after selling 100,000 shares during the quarter. Context Capital Management LLC owned 1.56% of Indigo Acquisition worth $2,010,000 at the end of the most recent reporting period.

Separately, Bulldog Investors LLP increased its stake in shares of Indigo Acquisition by 9.1% in the 4th quarter. Bulldog Investors LLP now owns 178,479 shares of the company’s stock valued at $1,790,000 after acquiring an additional 14,906 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings initiated coverage on shares of Indigo Acquisition in a research note on Wednesday, April 1st. They issued a “sell (d-)” rating for the company. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Indigo Acquisition Price Performance

Shares of INAC stock opened at $10.22 on Friday. The firm has a 50-day moving average price of $10.19. Indigo Acquisition Corp. has a one year low of $9.92 and a one year high of $10.25.

Indigo Acquisition (NASDAQ:INAC) last announced its earnings results on Wednesday, March 25th. The company reported $0.09 EPS for the quarter.

Indigo Acquisition Company Profile

Indigo Acquisition (NASDAQ: INAC) is a special purpose acquisition company (SPAC) formed to raise capital through a public offering and to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank-check vehicle, the company’s principal activity is identifying and evaluating acquisition targets rather than operating a traditional commercial enterprise. Funds raised in the offering are typically held in a trust account pending completion of a qualifying business combination.

Like other SPACs, Indigo Acquisition’s activities center on sourcing, negotiating and completing a strategic combination that can provide a private operating company with access to public markets.