IG Acquisition Corp. (NASDAQ:IGAC) Short Interest Update

IG Acquisition Corp. (NASDAQ:IGAC) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 2,106 shares, a growth of 114.9% from the June 30th total of 980 shares. Based on an average trading volume of 5,525 shares, the short-interest ratio is currently 0.4 days. Currently, 0.0% of the shares of the company are sold short.

Institutional Investors Weigh In On IG Acquisition

Several large investors have recently made changes to their positions in IGAC. Adage Capital Partners GP L.L.C. bought a new position in IG Acquisition in the 4th quarter worth approximately $13,284,000. Radcliffe Capital Management L.P. bought a new position in shares of IG Acquisition in the fourth quarter worth $5,412,000. Rivernorth Capital Management LLC acquired a new position in shares of IG Acquisition during the first quarter valued at $5,062,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of IG Acquisition during the first quarter valued at about $4,970,000. Finally, First Trust Capital Management L.P. bought a new stake in shares of IG Acquisition during the fourth quarter valued at about $4,920,000. Institutional investors and hedge funds own 38.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised IG Acquisition from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, IG Acquisition has an average rating of “Sell”.

IG Acquisition Stock Performance

IGAC stock traded up $0.01 during mid-day trading on Tuesday, reaching $10.04. The company had a trading volume of 827,112 shares, compared to its average volume of 40,950. IG Acquisition has a one year low of $9.82 and a one year high of $10.05. The stock’s 50-day simple moving average is $10.01 and its two-hundred day simple moving average is $9.96.

IG Acquisition (NASDAQ:IGAC) last released its quarterly earnings results on Friday, May 15th. The company reported $0.06 EPS for the quarter.

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.