IB Acquisition (NASDAQ:IBAC) Shares Down 0% – What’s Next?

IB Acquisition Corp. (NASDAQ:IBAC)’s share price fell 0% during mid-day trading on Monday . The stock traded as low as $10.81 and last traded at $10.8190. Approximately 111 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 483 shares. The stock had previously closed at $10.82.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of IB Acquisition in a research note on Friday, May 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, IB Acquisition has a consensus rating of “Hold”.

IB Acquisition Price Performance

The stock’s 50 day moving average is $10.76 and its 200-day moving average is $10.72.

IB Acquisition (NASDAQ:IBAC) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.11) earnings per share for the quarter.

Institutional Investors Weigh In On IB Acquisition

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC lifted its position in IB Acquisition by 70.9% in the 4th quarter. Virtu Financial LLC now owns 42,298 shares of the company’s stock valued at $444,000 after acquiring an additional 17,548 shares in the last quarter. HRT Financial LP bought a new stake in shares of IB Acquisition in the 4th quarter worth $409,000. ABC Arbitrage SA purchased a new position in shares of IB Acquisition in the fourth quarter worth $210,000. Wolverine Asset Management LLC raised its stake in shares of IB Acquisition by 40.0% in the fourth quarter. Wolverine Asset Management LLC now owns 140,000 shares of the company’s stock worth $1,470,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Susquehanna International Group LLP lifted its holdings in shares of IB Acquisition by 60.0% during the third quarter. Susquehanna International Group LLP now owns 25,111 shares of the company’s stock valued at $264,000 after purchasing an additional 9,416 shares in the last quarter.

About IB Acquisition

IB Acquisition Corp (NASDAQ: IBAC) is a special purpose acquisition company (SPAC) formed with the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company does not generate any operating revenues and its business plan is entirely dependent on identifying or acquiring a suitable target business in accordance with its charter.

Incorporated in Delaware in 2021, IB Acquisition Corp completed its initial public offering later that year, raising capital that is held in a trust account pending the identification and closing of a business combination.