StoneBridge Acquisition (NASDAQ:APAC) Trading Down 0.1% – Here’s Why

StoneBridge Acquisition Co. (NASDAQ:APACGet Free Report) shares traded down 0.1% during trading on Wednesday . The company traded as low as $10.21 and last traded at $10.1990. 4,213 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 14,976 shares. The stock had previously closed at $10.21.

Analyst Ratings Changes

Separately, Weiss Ratings raised StoneBridge Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Check Out Our Latest Research Report on APAC

StoneBridge Acquisition Stock Down 0.2%

The stock has a 50 day moving average of $10.17 and a 200 day moving average of $10.10.

StoneBridge Acquisition (NASDAQ:APACGet Free Report) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.04 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On StoneBridge Acquisition

Hedge funds have recently bought and sold shares of the company. ABC Arbitrage SA purchased a new position in shares of StoneBridge Acquisition during the fourth quarter worth about $199,000. Westchester Capital Management LLC purchased a new position in shares of StoneBridge Acquisition in the fourth quarter worth about $796,000. Berkley W R Corp bought a new stake in shares of StoneBridge Acquisition in the 4th quarter valued at about $1,128,000. Sona Asset Management US LLC purchased a new stake in StoneBridge Acquisition during the 1st quarter valued at about $1,177,000. Finally, Boothbay Fund Management LLC bought a new position in StoneBridge Acquisition during the 4th quarter worth approximately $1,368,000. Hedge funds and other institutional investors own 19.18% of the company’s stock.

About StoneBridge Acquisition

(Get Free Report)

StoneBridge Acquisition Corporation does not have significant operations. It intends to effect a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar Business Combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.

Further Reading

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