StoneBridge Acquisition (NASDAQ:APAC) Releases Quarterly Earnings Results

StoneBridge Acquisition (NASDAQ:APAC) announced its quarterly earnings data on Friday. The company reported $0.04 earnings per share for the quarter, FiscalAI reports.

StoneBridge Acquisition Stock Down 0.1%

APAC opened at $10.19 on Friday. The firm’s 50-day simple moving average is $10.16 and its 200-day simple moving average is $10.10. StoneBridge Acquisition has a twelve month low of $9.87 and a twelve month high of $10.21.

Hedge Funds Weigh In On StoneBridge Acquisition

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. ABC Arbitrage SA acquired a new stake in shares of StoneBridge Acquisition during the fourth quarter worth approximately $199,000. Westchester Capital Management LLC bought a new stake in StoneBridge Acquisition during the 4th quarter worth approximately $796,000. Berkley W R Corp bought a new stake in shares of StoneBridge Acquisition during the fourth quarter worth $1,128,000. Sona Asset Management US LLC acquired a new position in StoneBridge Acquisition during the 1st quarter worth about $1,177,000. Finally, Boothbay Fund Management LLC bought a new stake in StoneBridge Acquisition during the 4th quarter worth about $1,368,000. 19.18% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised StoneBridge Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

StoneBridge Acquisition Company Profile

StoneBridge Acquisition Corporation does not have significant operations. It intends to effect a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar Business Combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.