IG Acquisition (NASDAQ:IGAC) Issues Quarterly Earnings Results

IG Acquisition (NASDAQ:IGAC) released its earnings results on Friday. The company reported $0.06 earnings per share (EPS) for the quarter, FiscalAI reports.

IG Acquisition Trading Up 0.3%

Shares of IG Acquisition stock traded up $0.03 during trading hours on Friday, reaching $10.00. 100 shares of the company’s stock were exchanged, compared to its average volume of 33,710. IG Acquisition has a 52-week low of $9.82 and a 52-week high of $9.99. The company has a fifty day moving average of $9.94 and a 200-day moving average of $9.98.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings initiated coverage on IG Acquisition in a report on Wednesday, April 8th. They set a “sell (e-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in IGAC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of IG Acquisition in the 4th quarter worth $3,936,000. StoneX Group Inc. acquired a new stake in IG Acquisition in the 4th quarter valued at $1,121,000. First Trust Capital Management L.P. acquired a new stake in IG Acquisition in the 4th quarter valued at $4,920,000. Hudson Bay Capital Management LP acquired a new stake in IG Acquisition in the 4th quarter valued at $2,523,000. Finally, Berkley W R Corp acquired a new stake in IG Acquisition in the 4th quarter valued at $975,000. 38.82% of the stock is owned by hedge funds and other institutional investors.

About IG Acquisition

IG Acquisition Corp. 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. The company was incorporated in 2020 and is based in New York, New York.