IB Acquisition Corp. (NASDAQ:IBAC) Stock Short Interest Report for September

IB Acquisition Corp. (NASDAQ:IBAC) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 2,339 shares, a growth of 449.1% from the September 15th total of 426 shares. Based on an average trading volume of 4,515 shares, the short-interest ratio is presently 0.5 days. Currently, 0.0% of the shares of the company are short sold.

IB Acquisition Stock Performance

IBAC stock opened at $10.91 on Friday. IB Acquisition has a 12-month low of $10.19 and a 12-month high of $11.64. The company’s fifty day simple moving average is $10.94 and its 200 day simple moving average is $10.82.

IB Acquisition (NASDAQ:IBAC) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.11) EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of IB Acquisition from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has an average rating of “Sell”.

IB Acquisition Company Profile

IB Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transactions may include a merger, acquisition, share exchange, reorganization or similar corporate combination.

Unlike an operating company, IB Acquisition does not have a broad portfolio of products or services of its own. Its principal activities are evaluating prospective targets, conducting due diligence and seeking shareholder approval for a proposed transaction.