Quetta Acquisition (NASDAQ:QETA) Stock Price Up 0.3% – Here’s Why

Quetta Acquisition Corporation (NASDAQ:QETA)’s share price traded up 0.3% on Friday . The stock traded as high as $11.34 and last traded at $11.2810. 2,203 shares traded hands during trading, an increase of 53% from the average session volume of 1,439 shares. The stock had previously closed at $11.25.

Analysts Set New Price Targets

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

Quetta Acquisition Trading Up 0.3%

The company’s fifty day moving average is $11.27 and its 200-day moving average is $11.03.

Hedge Funds Weigh In On Quetta Acquisition

Several institutional investors and hedge funds have recently modified their holdings of QETA. Clear Street Group Inc. purchased a new stake in shares of Quetta Acquisition in the third quarter worth about $197,000. Clear Street LLC lifted its holdings in Quetta Acquisition by 185.1% in the second quarter. Clear Street LLC now owns 17,577 shares of the company’s stock valued at $191,000 after acquiring an additional 11,411 shares during the period. Finally, Wolverine Asset Management LLC lifted its holdings in Quetta Acquisition by 2.5% in the second quarter. Wolverine Asset Management LLC now owns 157,458 shares of the company’s stock valued at $1,710,000 after acquiring an additional 3,769 shares during the period. Institutional investors and hedge funds own 84.33% of the company’s stock.

Quetta Acquisition Company Profile

Quetta Acquisition Corporation focuses on effecting a merger, capital stock exchange, share purchase, asset acquisition, recapitalization, reorganization, or related business combination with one or more businesses. It intends to focus on financial technology sector in Asia. The company was incorporated in 2023 and is based in New York, New York.