Apex Technology Acquisition Co. (NASDAQ:APXT) Sees Significant Increase in Short Interest

Apex Technology Acquisition Co. (NASDAQ:APXT) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 28,321 shares, an increase of 2,948.5% from the June 15th total of 929 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 204,981 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on APXT shares. Weiss Ratings assumed coverage on shares of Apex Technology Acquisition in a research report on Tuesday, May 26th. They set a “sell (e+)” rating for the company. Wall Street Zen upgraded Apex Technology Acquisition to a “hold” rating in a report on Saturday, June 20th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Apex Technology Acquisition Stock Performance

APXT stock remained flat at $10.07 during midday trading on Friday. The company’s stock had a trading volume of 758 shares, compared to its average volume of 111,621. Apex Technology Acquisition has a 12-month low of $9.87 and a 12-month high of $10.10. The firm has a 50 day moving average price of $10.04 and a 200 day moving average price of $9.98.

Apex Technology Acquisition (NASDAQ:APXT) last issued its earnings results on Thursday, March 26th. The company reported $0.09 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Apex Technology Acquisition

A number of large investors have recently added to or reduced their stakes in APXT. Gritstone Asset Management LLC purchased a new position in shares of Apex Technology Acquisition in the fourth quarter valued at about $494,000. Wolverine Asset Management LLC purchased a new position in Apex Technology Acquisition during the 4th quarter valued at about $11,246,000. HighTower Advisors LLC bought a new position in Apex Technology Acquisition during the 4th quarter valued at approximately $11,272,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Apex Technology Acquisition during the 4th quarter valued at approximately $3,956,000. Finally, Periscope Capital Inc. purchased a new stake in Apex Technology Acquisition in the 4th quarter worth approximately $4,450,000. Institutional investors own 6.01% of the company’s stock.

About Apex Technology Acquisition

Apex Technology Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the software and internet technology industries. The company was incorporated in 2019 and is based in Burlingame, California. Apex Technology Acquisition Corporation is a subsidiary of Apex Technology Sponsor LLC.