StoneBridge Acquisition (NASDAQ:APAC) Issues Earnings Results

StoneBridge Acquisition (NASDAQ:APAC) announced its quarterly earnings data on Friday. The company reported $0.04 earnings per share for the quarter, FiscalAI reports.

StoneBridge Acquisition Stock Performance

Shares of APAC stock traded down $0.01 during trading hours on Friday, reaching $10.19. The company had a trading volume of 13,006 shares, compared to its average volume of 16,813. The business has a fifty day moving average price of $10.16 and a 200-day moving average price of $10.10. StoneBridge Acquisition has a one year low of $9.87 and a one year high of $10.21.

Institutional Investors Weigh In On StoneBridge Acquisition

Several institutional investors and hedge funds have recently added to or reduced their stakes in APAC. Rivernorth Capital Management LLC purchased a new stake in StoneBridge Acquisition during the 1st quarter valued at $4,970,000. Sona Asset Management US LLC bought a new stake in shares of StoneBridge Acquisition in the first quarter worth $1,177,000. Toronto Dominion Bank purchased a new stake in StoneBridge Acquisition during the fourth quarter valued at $2,657,000. Boothbay Fund Management LLC purchased a new stake in StoneBridge Acquisition during the fourth quarter valued at $1,368,000. Finally, Aristeia Capital L.L.C. bought a new position in StoneBridge Acquisition in the fourth quarter valued at about $1,990,000. Hedge funds and other institutional investors own 19.18% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded StoneBridge Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

StoneBridge Acquisition Company Profile

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.