IB Acquisition (NASDAQ:IBAC) Shares Down 0% – Time to Sell?

IB Acquisition Corp. (NASDAQ:IBAC) traded down 0% on Monday . The stock 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 daily volume of 483 shares. The stock had previously closed at $10.82.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of IB Acquisition in a report on Friday, May 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

IB Acquisition Stock Up 0.1%

The business’s 50-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) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IBAC. Flow Traders U.S. LLC increased its position in IB Acquisition by 22.9% in the 3rd quarter. Flow Traders U.S. LLC now owns 23,069 shares of the company’s stock valued at $243,000 after acquiring an additional 4,301 shares during the period. Susquehanna International Group LLP lifted its position in IB Acquisition by 60.0% during the 3rd quarter. Susquehanna International Group LLP now owns 25,111 shares of the company’s stock worth $264,000 after acquiring an additional 9,416 shares during the period. Jane Street Group LLC purchased a new position in shares of IB Acquisition in the 2nd quarter valued at approximately $135,000. Virtu Financial LLC grew its stake in shares of IB Acquisition by 70.9% in the 4th quarter. Virtu Financial LLC now owns 42,298 shares of the company’s stock valued at $444,000 after purchasing an additional 17,548 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new position in shares of IB Acquisition in the fourth quarter valued at approximately $210,000.

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.