StoneBridge Acquisition (NASDAQ:APAC) Shares Up 0% – Here’s What Happened

StoneBridge Acquisition Co. (NASDAQ:APAC) shares shot up 0% during mid-day trading on Wednesday . The stock traded as high as $10.13 and last traded at $10.1250. 15,768 shares traded hands during trading, an increase of 334% from the average session volume of 3,632 shares. The stock had previously closed at $10.12.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised StoneBridge Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, StoneBridge Acquisition presently has an average rating of “Sell”.

StoneBridge Acquisition Stock Up 0.1%

The company has a 50 day moving average of $10.07 and a two-hundred day moving average of $10.15.

Institutional Investors Weigh In On StoneBridge Acquisition

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ABC Arbitrage SA purchased a new stake in StoneBridge Acquisition in the fourth quarter worth $199,000. Westchester Capital Management LLC purchased a new stake in StoneBridge Acquisition in the fourth quarter worth $796,000. Berkley W R Corp purchased a new stake in StoneBridge Acquisition in the fourth quarter worth $1,128,000. Sona Asset Management US LLC purchased a new stake in StoneBridge Acquisition in the first quarter worth $1,177,000. Finally, Boothbay Fund Management LLC purchased a new stake in StoneBridge Acquisition in the fourth quarter worth $1,368,000. 19.18% of the stock is owned by hedge funds and other institutional investors.

StoneBridge Acquisition Company Profile

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.