IB Acquisition Corp. (NASDAQ:IBAC) Shares Shorted: Short Interest Up 449.1% in September

IB Acquisition Corp. (NASDAQ:IBAC) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 2,339 shares, an increase of 449.1% from the September 15th total of 426 shares. Based on an average daily volume of 4,515 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.0% of the shares of the company are sold short.

IB Acquisition Trading Up 0.3%

IB Acquisition stock traded up $0.04 during trading hours on Friday, hitting $10.91. The stock had a trading volume of 126 shares, compared to its average volume of 3,182. The company has a 50-day moving average of $10.94 and a two-hundred day moving average of $10.82. IB Acquisition has a fifty-two week low of $10.19 and a fifty-two week high of $11.64.

IB Acquisition (NASDAQ:IBAC) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.11) EPS for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of IB Acquisition from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has an average rating of “Sell”.

About IB Acquisition

IB Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transactions may include a merger, acquisition, share exchange, reorganization or similar corporate combination.

Unlike an operating company, IB Acquisition does not have a broad portfolio of products or services of its own. Its principal activities are evaluating prospective targets, conducting due diligence and seeking shareholder approval for a proposed transaction.