IB Acquisition (NASDAQ:IBAC) Trading Up 0.2% – Time to Buy?

IB Acquisition Corp. (NASDAQ:IBAC) traded up 0.2% during mid-day trading on Wednesday . The company traded as high as $10.50 and last traded at $10.4740. 14,213 shares changed hands during trading, an increase of 155% from the average session volume of 5,572 shares. The stock had previously closed at $10.45.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of IB Acquisition in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

IB Acquisition Price Performance

The stock has a 50-day moving average of $10.47 and a 200-day moving average of $10.49.

Insider Activity

In other news, major shareholder Aqr Capital Management Holding sold 195,806 shares of the business’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $10.44, for a total value of $2,044,214.64. Following the sale, the insider owned 2,162 shares of the company’s stock, valued at $22,571.28. The trade was a 98.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mizuho Securities USA LLC acquired a new stake in IB Acquisition in the 1st quarter valued at $126,000. Jane Street Group LLC bought a new position in shares of IB Acquisition in the 2nd quarter valued at about $135,000. PenderFund Capital Management Ltd. acquired a new stake in shares of IB Acquisition in the third quarter valued at about $230,000. Flow Traders U.S. LLC raised its holdings in IB Acquisition by 22.9% during the third quarter. Flow Traders U.S. LLC now owns 23,069 shares of the company’s stock worth $243,000 after acquiring an additional 4,301 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in IB Acquisition during the third quarter valued at approximately $260,000.

About IB Acquisition

IB Acquisition Corp. is a blank check company. It formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses or entities. IB Acquisition Corp. is based in Boca Raton, Florida.