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

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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”.

IB Acquisition Stock Down 0.0%

The firm’s fifty day moving average is $10.76 and its two-hundred day moving average is $10.72.

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

Hedge Funds Weigh In On IB Acquisition

A number of institutional investors have recently bought and sold shares of IBAC. Jane Street Group LLC bought a new stake in IB Acquisition during the 2nd quarter valued at approximately $135,000. ABC Arbitrage SA bought a new stake in shares of IB Acquisition during the fourth quarter valued at approximately $210,000. PenderFund Capital Management Ltd. bought a new stake in shares of IB Acquisition during the third quarter valued at approximately $230,000. Flow Traders U.S. LLC grew its stake in IB Acquisition by 22.9% in the third quarter. Flow Traders U.S. LLC now owns 23,069 shares of the company’s stock worth $243,000 after purchasing an additional 4,301 shares during the period. Finally, Virtu Financial LLC bought a new position in IB Acquisition in the third quarter worth $260,000.

IB Acquisition Company Profile

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.