Inception Growth Acquisition Limited (NASDAQ:IGTA) Sees Large Decline in Short Interest

Inception Growth Acquisition Limited (NASDAQ:IGTA) was the recipient of a significant drop in short interest in October. As of October 15th, there was short interest totaling 800 shares, a drop of 27.3% from the September 30th total of 1,100 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 200 shares, the days-to-cover ratio is presently 4.0 days. Based on an average trading volume of 200 shares, the days-to-cover ratio is presently 4.0 days. Currently, 0.0% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus dropped their price target on shares of Inception Growth Acquisition from $30.00 to $26.00 and set a “hold” rating on the stock in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $26.00.

Inception Growth Acquisition Price Performance

NASDAQ:IGTA remained flat at $9.00 during midday trading on Monday. 25 shares of the company were exchanged, compared to its average volume of 2,360. The business’s 50-day simple moving average is $10.95 and its two-hundred day simple moving average is $11.61. Inception Growth Acquisition has a 1 year low of $6.64 and a 1 year high of $14.00.

About Inception Growth Acquisition

Inception Growth Acquisition Limited does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus on sourcing opportunities in the technology, media and telecom, sports and entertainment, and non-gambling game sectors.