Rivernorth Capital Management LLC Invests $4.97 Million in StoneBridge Acquisition Co. $APAC

Rivernorth Capital Management LLC acquired a new stake in StoneBridge Acquisition Co. (NASDAQ:APAC) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 494,517 shares of the company’s stock, valued at approximately $4,970,000. Rivernorth Capital Management LLC owned approximately 0.06% of StoneBridge Acquisition as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Wolverine Asset Management LLC acquired a new stake in StoneBridge Acquisition in the fourth quarter worth $4,989,000. Aristeia Capital L.L.C. acquired a new position in shares of StoneBridge Acquisition during the fourth quarter valued at about $1,990,000. Sona Asset Management US LLC bought a new position in shares of StoneBridge Acquisition during the 1st quarter worth about $1,177,000. Clear Street Group Inc. acquired a new stake in shares of StoneBridge Acquisition in the 4th quarter valued at about $3,216,000. Finally, Radcliffe Capital Management L.P. acquired a new stake in shares of StoneBridge Acquisition in the 4th quarter valued at about $1,592,000. Institutional investors and hedge funds own 19.18% of the company’s stock.

StoneBridge Acquisition Price Performance

StoneBridge Acquisition stock opened at $10.18 on Wednesday. The firm’s fifty day moving average price is $10.15 and its two-hundred day moving average price is $10.08. StoneBridge Acquisition Co. has a 1-year low of $9.87 and a 1-year high of $10.19.

Analysts Set New Price Targets

Separately, Weiss Ratings raised StoneBridge Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, StoneBridge Acquisition currently has a consensus rating of “Sell”.

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.