Indigo Acquisition (NASDAQ:INAC) Releases Earnings Results

Indigo Acquisition (NASDAQ:INAC) released its earnings results on Monday. The company reported $0.06 EPS for the quarter, FiscalAI reports.

Indigo Acquisition Stock Performance

Indigo Acquisition stock opened at $10.20 on Tuesday. The firm’s fifty day simple moving average is $10.15. Indigo Acquisition has a one year low of $9.92 and a one year high of $10.20.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings assumed coverage on Indigo Acquisition in a research note on Wednesday, April 1st. They issued a “sell (d-)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC lifted its position in Indigo Acquisition by 10.4% during the fourth quarter. Rivernorth Capital Management LLC now owns 343,701 shares of the company’s stock valued at $3,447,000 after purchasing an additional 32,426 shares during the period. Westchester Capital Management LLC bought a new position in shares of Indigo Acquisition in the fourth quarter worth about $2,520,000. Bulldog Investors LLP raised its position in shares of Indigo Acquisition by 9.1% during the 4th quarter. Bulldog Investors LLP now owns 178,479 shares of the company’s stock valued at $1,790,000 after purchasing an additional 14,906 shares during the period. Heights Capital Management Inc. bought a new stake in shares of Indigo Acquisition during the 4th quarter valued at $1,008,000. Finally, Toronto Dominion Bank raised its stake in Indigo Acquisition by 16.4% during the 4th quarter. Toronto Dominion Bank now owns 59,658 shares of the company’s stock valued at $600,000 after purchasing an additional 8,400 shares during the period.

Indigo Acquisition Company Profile

Indigo Acquisition (NASDAQ: INAC) is a special purpose acquisition company (SPAC) formed to raise capital through a public offering and to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank-check vehicle, the company’s principal activity is identifying and evaluating acquisition targets rather than operating a traditional commercial enterprise. Funds raised in the offering are typically held in a trust account pending completion of a qualifying business combination.

Like other SPACs, Indigo Acquisition’s activities center on sourcing, negotiating and completing a strategic combination that can provide a private operating company with access to public markets.