Indigo Acquisition Corp. (NASDAQ:INAC) Short Interest Update

Indigo Acquisition Corp. (NASDAQ:INAC) saw a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 134 shares, a decline of 81.7% from the July 15th total of 733 shares. Based on an average daily trading volume, of 4,996 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Indigo Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, Indigo Acquisition currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Evercore Wealth Management LLC acquired a new position in Indigo Acquisition during the fourth quarter worth $108,000. Toronto Dominion Bank lifted its position in shares of Indigo Acquisition by 16.4% in the fourth quarter. Toronto Dominion Bank now owns 59,658 shares of the company’s stock valued at $600,000 after buying an additional 8,400 shares during the last quarter. Heights Capital Management Inc. bought a new position in shares of Indigo Acquisition during the 4th quarter worth approximately $1,008,000. Sona Asset Management US LLC acquired a new position in shares of Indigo Acquisition during the 1st quarter worth approximately $1,611,000. Finally, Bulldog Investors LLP increased its holdings in shares of Indigo Acquisition by 9.1% during the 4th quarter. Bulldog Investors LLP now owns 178,479 shares of the company’s stock worth $1,790,000 after acquiring an additional 14,906 shares during the last quarter.

Indigo Acquisition Stock Performance

NASDAQ:INAC opened at $10.31 on Wednesday. The stock’s fifty day moving average price is $10.26. Indigo Acquisition has a 52-week low of $9.94 and a 52-week high of $10.33.

Indigo Acquisition (NASDAQ:INAC) last posted its quarterly earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter.

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.