Indigo Acquisition Corp. (NASDAQ:INAC) Shares Shorted: Short Interest Down 70.6% in September

Indigo Acquisition Corp. (NASDAQ:INAC) was the target of a large drop in short interest in September. As of September 15th, there was short interest totaling 40 shares, a drop of 70.6% from the August 31st total of 136 shares. Based on an average trading volume of 1,359 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Indigo Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Indigo Acquisition

A hedge fund recently bought a new position in Indigo Acquisition stock. Robinson Capital Management LLC bought a new stake in shares of Indigo Acquisition Corp. (NASDAQ:INAC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 14,004 shares of the company’s stock, valued at approximately $143,000. Robinson Capital Management LLC owned 0.11% of Indigo Acquisition as of its most recent SEC filing.

Indigo Acquisition Stock Performance

INAC traded down $0.01 during trading on Friday, hitting $10.35. The stock had a trading volume of 226 shares, compared to its average volume of 3,306. Indigo Acquisition has a 12 month low of $9.96 and a 12 month high of $10.40. The company has a 50 day simple moving average of $10.32 and a 200-day simple moving average of $10.24.

Indigo Acquisition Company Profile

Indigo Acquisition Corp. (NASDAQ: INAC) is a special purpose acquisition company, or blank-check company. Rather than operating a conventional business, the company was formed to raise capital through a public offering and pursue a merger, acquisition, or similar business combination with an operating company.

Indigo Acquisition’s activities are centered on identifying and evaluating potential target businesses, negotiating transaction terms, and completing a business combination subject to shareholder and regulatory approval.