StoneBridge Acquisition (NASDAQ:APAC) Shares Down 0.1% – Should You Sell?

Shares of StoneBridge Acquisition Co. (NASDAQ:APACGet Free Report) traded down 0.1% during mid-day trading on Wednesday . The company traded as low as $10.21 and last traded at $10.1990. Approximately 4,213 shares traded hands during trading, a decline of 72% from the average daily volume of 14,976 shares. The stock had previously closed at $10.21.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded StoneBridge Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, StoneBridge Acquisition presently has an average rating of “Sell”.

View Our Latest Stock Report on StoneBridge Acquisition

StoneBridge Acquisition Stock Performance

The firm’s 50 day simple moving average is $10.17 and its 200-day simple moving average is $10.10.

StoneBridge Acquisition (NASDAQ:APACGet Free Report) last issued its earnings results on Friday, August 14th. The company reported $0.04 EPS for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in APAC. Wolverine Asset Management LLC acquired a new position in StoneBridge Acquisition during the 4th quarter worth approximately $4,989,000. Rivernorth Capital Management LLC acquired a new stake in StoneBridge Acquisition in the first quarter valued at approximately $4,970,000. Glazer Capital LLC acquired a new stake in StoneBridge Acquisition in the fourth quarter valued at approximately $4,051,000. Clear Street Group Inc. purchased a new stake in shares of StoneBridge Acquisition during the fourth quarter valued at approximately $3,216,000. Finally, AQR Arbitrage LLC purchased a new stake in shares of StoneBridge Acquisition during the fourth quarter valued at approximately $2,945,000. 19.18% of the stock is owned by hedge funds and other institutional investors.

About StoneBridge Acquisition

(Get Free Report)

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.

Further Reading

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