StoneBridge Acquisition (NASDAQ:APAC) Trading at $10.27

Shares of StoneBridge Acquisition Co. (NASDAQ:APAC) were up 0% during trading on Tuesday. The stock traded as high as $10.27 and last traded at $10.2710. 403 shares were traded during trading, a decline of 98% from the average session volume of 20,551 shares. The stock had previously closed at $10.27.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of StoneBridge Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, StoneBridge Acquisition currently has an average rating of “Sell”.

StoneBridge Acquisition Stock Performance

The company has a 50 day moving average of $10.24 and a two-hundred day moving average of $10.15.

StoneBridge Acquisition (NASDAQ:APAC) last released its quarterly earnings results on Friday, August 14th. The company reported $0.04 EPS for the quarter.

Hedge Funds Weigh In On StoneBridge Acquisition

Several hedge funds and other institutional investors have recently modified their holdings of the stock. SkyView Investment Advisors LLC purchased a new stake in StoneBridge Acquisition during the 2nd quarter worth approximately $504,000. Sona Asset Management US LLC acquired a new position in shares of StoneBridge Acquisition in the 1st quarter valued at $1,177,000. Radcliffe Capital Management L.P. purchased a new position in StoneBridge Acquisition in the 4th quarter worth $1,592,000. Aristeia Capital L.L.C. purchased a new position in StoneBridge Acquisition in the 4th quarter worth $1,990,000. Finally, Clear Street Group Inc. acquired a new stake in StoneBridge Acquisition during the 4th quarter worth about $3,216,000. 19.18% of the stock is owned by hedge funds and other institutional investors.

StoneBridge Acquisition Company Profile

StoneBridge Acquisition Corporation is a special purpose acquisition company (SPAC) listed on Nasdaq under the symbol APAC. Unlike an operating company, it was formed to raise capital through an initial public offering and pursue a business combination with an existing private company.

The company’s activities center on identifying and evaluating potential merger, acquisition, or similar transactions. Until a transaction is completed, StoneBridge Acquisition generally does not offer products or services of its own and operates primarily as a vehicle holding funds raised from investors while seeking a suitable target.

Publicly available information about StoneBridge Acquisition’s specific target industries, geographic focus, and leadership is limited.