Rivernorth Capital Management LLC Buys New Position in Apex Technology Acquisition Co. $APXT

Rivernorth Capital Management LLC bought a new position in shares of Apex Technology Acquisition Co. (NASDAQ:APXT) in the 1st quarter, Holdings Channel reports. The fund bought 251,464 shares of the company’s stock, valued at approximately $2,500,000.

Other hedge funds have also added to or reduced their stakes in the company. Meteora Capital LLC acquired a new position in Apex Technology Acquisition in the fourth quarter valued at approximately $27,093,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Apex Technology Acquisition during the 4th quarter worth approximately $22,252,000. Hudson Bay Capital Management LP bought a new stake in shares of Apex Technology Acquisition in the 4th quarter valued at $11,508,000. HighTower Advisors LLC acquired a new position in shares of Apex Technology Acquisition during the 4th quarter valued at $11,272,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of Apex Technology Acquisition during the 4th quarter valued at $11,246,000. 6.01% of the stock is currently owned by institutional investors.

Apex Technology Acquisition Stock Performance

NASDAQ:APXT opened at $10.12 on Thursday. Apex Technology Acquisition Co. has a 52 week low of $9.87 and a 52 week high of $10.19. The firm has a 50-day moving average price of $10.06 and a two-hundred day moving average price of $10.00.

Apex Technology Acquisition (NASDAQ:APXT) last announced its earnings results on Thursday, March 26th. The company reported $0.09 earnings per share for the quarter.

Analyst Upgrades and Downgrades

APXT has been the subject of several research analyst reports. Weiss Ratings initiated coverage on shares of Apex Technology Acquisition in a research note on Tuesday, May 26th. They issued a “sell (e+)” rating for the company. Wall Street Zen upgraded Apex Technology Acquisition to a “hold” rating in a research note on Saturday, June 20th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Apex Technology Acquisition Company Profile

Apex Technology Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the software and internet technology industries. The company was incorporated in 2019 and is based in Burlingame, California. Apex Technology Acquisition Corporation is a subsidiary of Apex Technology Sponsor LLC.