IG Acquisition Corp. (NASDAQ:IGAC) Short Interest Update

IG Acquisition Corp. (NASDAQ:IGAC) saw a significant decline in short interest in June. As of June 15th, there was short interest totaling 791 shares, a decline of 60.4% from the May 31st total of 1,995 shares. Based on an average trading volume of 653 shares, the short-interest ratio is presently 1.2 days. Approximately 0.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On IG Acquisition

A number of large investors have recently added to or reduced their stakes in IGAC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in IG Acquisition in the 4th quarter worth approximately $3,936,000. StoneX Group Inc. bought a new stake in shares of IG Acquisition in the 4th quarter worth approximately $1,121,000. First Trust Capital Management L.P. purchased a new stake in shares of IG Acquisition in the fourth quarter worth $4,920,000. Hudson Bay Capital Management LP purchased a new position in shares of IG Acquisition in the 4th quarter worth about $2,523,000. Finally, Berkley W R Corp bought a new position in shares of IG Acquisition in the fourth quarter worth approximately $975,000. Institutional investors own 38.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised IG Acquisition from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, IG Acquisition currently has a consensus rating of “Sell”.

IG Acquisition Price Performance

IG Acquisition stock opened at $10.01 on Wednesday. The firm has a fifty day simple moving average of $9.99 and a two-hundred day simple moving average of $9.95. IG Acquisition has a twelve month low of $9.82 and a twelve month high of $10.02.

IG Acquisition (NASDAQ:IGAC) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.06 earnings per share (EPS) for the quarter.

About IG Acquisition

IG Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.