IB Acquisition Corp. (NASDAQ:IBAC) Short Interest Down 86.8% in July

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

Institutional Trading of IB Acquisition

Institutional investors have recently bought and sold shares of the company. Flow Traders U.S. LLC grew its holdings in IB Acquisition by 22.9% in the third quarter. Flow Traders U.S. LLC now owns 23,069 shares of the company’s stock valued at $243,000 after purchasing an additional 4,301 shares during the last quarter. Susquehanna International Group LLP raised its stake in shares of IB Acquisition by 60.0% during the 3rd quarter. Susquehanna International Group LLP now owns 25,111 shares of the company’s stock worth $264,000 after buying an additional 9,416 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of IB Acquisition in the 2nd quarter worth about $135,000. Virtu Financial LLC boosted its position in shares of IB Acquisition by 70.9% in the 4th quarter. Virtu Financial LLC now owns 42,298 shares of the company’s stock worth $444,000 after buying an additional 17,548 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new stake in IB Acquisition in the 4th quarter valued at about $210,000.

Analysts Set New Price Targets

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

IB Acquisition Trading Up 0.6%

IB Acquisition stock traded up $0.07 during mid-day trading on Friday, reaching $10.87. The company had a trading volume of 4,552 shares, compared to its average volume of 8,761. IB Acquisition has a 1 year low of $10.19 and a 1 year high of $11.45. The stock’s 50-day simple moving average is $10.76 and its 200-day simple moving average is $10.73.

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

About IB Acquisition

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.