Indigo Acquisition (NASDAQ:INAC) Announces Earnings Results

Indigo Acquisition (NASDAQ:INAC) posted its earnings results on Monday. The company reported $0.06 EPS for the quarter, FiscalAI reports.

Indigo Acquisition Stock Up 0.2%

Shares of NASDAQ INAC traded up $0.02 during midday trading on Wednesday, reaching $10.22. 105 shares of the company traded hands, compared to its average volume of 17,488. The stock’s 50-day moving average is $10.16. Indigo Acquisition has a 52 week low of $9.92 and a 52 week high of $10.20.

Hedge Funds Weigh In On Indigo Acquisition

Several large investors have recently bought and sold shares of INAC. Evercore Wealth Management LLC acquired a new stake in Indigo Acquisition in the 4th quarter valued at about $108,000. Toronto Dominion Bank lifted its stake in shares of Indigo Acquisition by 16.4% in the 4th quarter. Toronto Dominion Bank now owns 59,658 shares of the company’s stock valued at $600,000 after purchasing an additional 8,400 shares during the last quarter. Heights Capital Management Inc. bought a new position in shares of Indigo Acquisition in the 4th quarter valued at approximately $1,008,000. Bulldog Investors LLP raised its position in shares of Indigo Acquisition by 9.1% in the fourth quarter. Bulldog Investors LLP now owns 178,479 shares of the company’s stock valued at $1,790,000 after purchasing an additional 14,906 shares during the period. Finally, Westchester Capital Management LLC acquired a new position in Indigo Acquisition during the 4th quarter worth $2,520,000.

Analyst Ratings Changes

Separately, Weiss Ratings started coverage on Indigo Acquisition in a research report on Wednesday, April 1st. They set a “sell (d-)” rating for the company. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Indigo Acquisition Company Profile

Indigo Acquisition (NASDAQ: INAC) is a special purpose acquisition company (SPAC) formed to raise capital through a public offering and to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank-check vehicle, the company’s principal activity is identifying and evaluating acquisition targets rather than operating a traditional commercial enterprise. Funds raised in the offering are typically held in a trust account pending completion of a qualifying business combination.

Like other SPACs, Indigo Acquisition’s activities center on sourcing, negotiating and completing a strategic combination that can provide a private operating company with access to public markets.