StoneBridge Acquisition (NASDAQ:APAC) Posts Quarterly Earnings Results

StoneBridge Acquisition (NASDAQ:APAC) issued its quarterly earnings data on Friday. The company reported $0.04 EPS for the quarter, FiscalAI reports.

StoneBridge Acquisition Stock Down 0.1%

NASDAQ:APAC traded down $0.01 during trading hours on Friday, hitting $10.19. 13,006 shares of the company were exchanged, compared to its average volume of 17,110. StoneBridge Acquisition has a 52-week low of $9.87 and a 52-week high of $10.21. The company’s 50 day moving average price is $10.16 and its 200-day moving average price is $10.10.

Analysts Set New Price Targets

Separately, Weiss Ratings raised StoneBridge Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, StoneBridge Acquisition presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On StoneBridge Acquisition

Several institutional investors and hedge funds have recently made changes to their positions in APAC. Wolverine Asset Management LLC acquired a new position in shares of StoneBridge Acquisition in the 4th quarter valued at $4,989,000. Rivernorth Capital Management LLC acquired a new stake in StoneBridge Acquisition during the 1st quarter worth about $4,970,000. Glazer Capital LLC purchased a new stake in StoneBridge Acquisition during the 4th quarter valued at about $4,051,000. Clear Street Group Inc. purchased a new stake in StoneBridge Acquisition during the 4th quarter valued at about $3,216,000. Finally, AQR Arbitrage LLC acquired a new position in shares of StoneBridge Acquisition in the fourth quarter valued at about $2,945,000. 19.18% of the stock is currently owned by institutional investors and hedge funds.

About StoneBridge Acquisition

StoneBridge Acquisition Corporation does not have significant operations. It intends to effect a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar Business Combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.