IG Acquisition Corp. (NASDAQ:IGAC) Sees Significant Increase in Short Interest

IG Acquisition Corp. (NASDAQ:IGAC) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,106 shares, a growth of 114.9% from the June 30th total of 980 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 5,525 shares, the short-interest ratio is currently 0.4 days.

IG Acquisition Stock Down 0.0%

NASDAQ:IGAC traded down $0.00 during mid-day trading on Wednesday, reaching $10.03. The company’s stock had a trading volume of 863 shares, compared to its average volume of 41,149. The company’s fifty day simple moving average is $10.02 and its two-hundred day simple moving average is $9.96. IG Acquisition has a twelve month low of $9.82 and a twelve month high of $10.05.

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

Hedge Funds Weigh In On IG Acquisition

Several institutional investors and hedge funds have recently bought and sold shares of IGAC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in IG Acquisition during the fourth quarter worth approximately $3,936,000. StoneX Group Inc. purchased a new stake in shares of IG Acquisition during the 4th quarter valued at $1,121,000. First Trust Capital Management L.P. purchased a new stake in shares of IG Acquisition during the 4th quarter valued at $4,920,000. Hudson Bay Capital Management LP acquired a new stake in shares of IG Acquisition during the 4th quarter worth $2,523,000. Finally, Berkley W R Corp acquired a new stake in shares of IG Acquisition during the 4th quarter worth $975,000. Institutional investors and hedge funds own 38.82% of the company’s stock.

Analyst Upgrades and Downgrades

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 research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

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.