Short Interest in IB Acquisition Corp. (NASDAQ:IBAC) Decreases By 86.8%

IB Acquisition Corp. (NASDAQ:IBAC) was the target of a large decline in short interest during the month of July. As of July 31st, there was short interest totaling 505 shares, a decline of 86.8% from the July 15th total of 3,836 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 463 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Flow Traders U.S. LLC grew its holdings in shares of IB Acquisition by 22.9% in the 3rd quarter. Flow Traders U.S. LLC now owns 23,069 shares of the company’s stock valued at $243,000 after acquiring an additional 4,301 shares in the last quarter. Susquehanna International Group LLP raised its holdings in IB Acquisition by 60.0% during the third quarter. Susquehanna International Group LLP now owns 25,111 shares of the company’s stock worth $264,000 after acquiring an additional 9,416 shares in the last quarter. Jane Street Group LLC bought a new stake in IB Acquisition during the second quarter worth about $135,000. Virtu Financial LLC boosted its position in IB Acquisition by 70.9% during the fourth quarter. Virtu Financial LLC now owns 42,298 shares of the company’s stock valued at $444,000 after purchasing an additional 17,548 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new position in shares of IB Acquisition during the 4th quarter worth approximately $210,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of IB Acquisition in a research report on Friday, May 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

IB Acquisition Trading Up 0.1%

Shares of NASDAQ IBAC traded up $0.01 during trading hours on Wednesday, hitting $10.82. The stock had a trading volume of 111 shares, compared to its average volume of 404. The firm’s 50-day moving average price is $10.76 and its two-hundred day moving average price is $10.72. IB Acquisition has a 52 week low of $10.19 and a 52 week high of $11.45.

IB Acquisition (NASDAQ:IBAC) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.11) earnings per share (EPS) for the quarter.

IB Acquisition Company Profile

IB Acquisition Corp (NASDAQ: IBAC) is a special purpose acquisition company (SPAC) formed with the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company does not generate any operating revenues and its business plan is entirely dependent on identifying or acquiring a suitable target business in accordance with its charter.

Incorporated in Delaware in 2021, IB Acquisition Corp completed its initial public offering later that year, raising capital that is held in a trust account pending the identification and closing of a business combination.