Sona Asset Management US LLC Acquires Shares of 117,096 StoneBridge Acquisition Co. $APAC

Sona Asset Management US LLC bought a new stake in StoneBridge Acquisition Co. (NASDAQ:APAC) in the first quarter, Holdings Channel reports. The institutional investor bought 117,096 shares of the company’s stock, valued at approximately $1,177,000.

Several other hedge funds have also made changes to their positions in the business. Toronto Dominion Bank purchased a new position in shares of StoneBridge Acquisition during the fourth quarter worth about $2,657,000. Boothbay Fund Management LLC purchased a new stake in StoneBridge Acquisition during the 4th quarter valued at approximately $1,368,000. Aristeia Capital L.L.C. purchased a new stake in StoneBridge Acquisition during the 4th quarter valued at approximately $1,990,000. AQR Arbitrage LLC acquired a new stake in StoneBridge Acquisition during the 4th quarter worth approximately $2,945,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in StoneBridge Acquisition during the 4th quarter worth approximately $1,492,000. Institutional investors and hedge funds own 19.18% of the company’s stock.

StoneBridge Acquisition Price Performance

Shares of APAC opened at $10.17 on Monday. StoneBridge Acquisition Co. has a 1 year low of $9.87 and a 1 year high of $10.18. The company’s fifty day moving average is $10.14 and its two-hundred day moving average is $10.08.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded StoneBridge Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, StoneBridge Acquisition presently has a consensus 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.