Shares of IB Acquisition Corp. (NASDAQ:IBAC – Get Free Report) traded down 0.1% on Thursday . The company traded as low as $10.79 and last traded at $10.7810. 162 shares changed hands during trading, a decline of 97% from the average daily volume of 5,431 shares. The stock had previously closed at $10.79.
Analyst Ratings Changes
Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of IB Acquisition in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.
Get Our Latest Stock Analysis on IB Acquisition
IB Acquisition Price Performance
IB Acquisition (NASDAQ:IBAC – Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.11) earnings per share for the quarter.
Hedge Funds Weigh In On IB Acquisition
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new stake in IB Acquisition in the second quarter valued at approximately $135,000. Crossingbridge Advisors LLC raised its stake in shares of IB Acquisition by 10.8% during the third quarter. Crossingbridge Advisors LLC now owns 482,223 shares of the company’s stock valued at $5,081,000 after purchasing an additional 46,833 shares during the period. DLD Asset Management LP acquired a new position in shares of IB Acquisition during the third quarter worth $2,525,000. RiverPark Advisors LLC lifted its position in shares of IB Acquisition by 49.8% during the third quarter. RiverPark Advisors LLC now owns 246,281 shares of the company’s stock worth $2,611,000 after purchasing an additional 81,833 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of IB Acquisition in the third quarter valued at $260,000.
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.
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