Benchmark Initiates Coverage on NextGen Acquisition (NASDAQ:NGAC)

Analysts at Benchmark started coverage on shares of NextGen Acquisition (NASDAQ:NGAC) in a note issued to investors on Friday, The Fly reports. The firm set a “buy” rating on the stock.

Shares of NASDAQ NGAC opened at $9.96 on Friday. NextGen Acquisition has a twelve month low of $9.70 and a twelve month high of $16.00. The firm has a 50 day moving average price of $9.91.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Davidson Kempner Capital Management LP bought a new position in NextGen Acquisition during the 1st quarter worth $15,464,000. TENOR CAPITAL MANAGEMENT Co. L.P. grew its stake in NextGen Acquisition by 11.2% during the 1st quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 555,826 shares of the company’s stock worth $5,514,000 after buying an additional 55,826 shares during the last quarter. Lombard Odier Asset Management USA Corp bought a new position in NextGen Acquisition during the 1st quarter worth $248,000. Zimmer Partners LP bought a new position in NextGen Acquisition during the 1st quarter worth $2,232,000. Finally, Point72 Asset Management L.P. bought a new position in NextGen Acquisition during the 1st quarter worth $285,000. Hedge funds and other institutional investors own 50.71% of the company’s stock.

About NextGen Acquisition

NextGen Acquisition Corporation does not have significant operations. The company focuses on pursuing opportunities in industrial and healthcare sectors. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.

See Also: Special Purpose Acquisition Company (SPAC) – What You Need to Know

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