IB Acquisition Corp. (NASDAQ:IBAC) Sees Large Growth in Short Interest

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

IB Acquisition Trading Up 0.3%

IBAC opened at $10.91 on Friday. The firm has a 50-day moving average price of $10.94 and a 200-day moving average price of $10.82. IB Acquisition has a twelve month low of $10.19 and a twelve month high of $11.64.

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

Analysts Set New Price Targets

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

IB Acquisition Company Profile

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.