StoneBridge Acquisition (NASDAQ:APAC) Shares Up 0.1% – Still a Buy?

StoneBridge Acquisition Co. (NASDAQ:APAC)’s share price rose 0.1% during mid-day trading on Wednesday . The company traded as high as $10.24 and last traded at $10.2450. 1,096 shares were traded during trading, a decline of 78% from the average session volume of 4,969 shares. The stock had previously closed at $10.23.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of StoneBridge Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, StoneBridge Acquisition currently has a consensus rating of “Sell”.

StoneBridge Acquisition Price Performance

The business has a 50-day moving average of $10.20 and a 200-day moving average of $10.12.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. ABC Arbitrage SA bought a new stake in StoneBridge Acquisition during the fourth quarter worth about $199,000. Westchester Capital Management LLC bought a new position in StoneBridge Acquisition in the 4th quarter valued at about $796,000. Berkley W R Corp acquired a new position in shares of StoneBridge Acquisition in the 4th quarter valued at approximately $1,128,000. Sona Asset Management US LLC acquired a new position in shares of StoneBridge Acquisition in the 1st quarter valued at approximately $1,177,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of StoneBridge Acquisition in the 4th quarter valued at approximately $1,368,000. Institutional investors and hedge funds own 19.18% of the company’s stock.

About StoneBridge Acquisition

StoneBridge Acquisition Corporation does not have significant operations. It intends to effect a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar Business Combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.