IG Acquisition Corp. (NASDAQ:IGAC) Stock Short Interest Report for September

IG Acquisition Corp. (NASDAQ:IGAC) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 4,806 shares, a growth of 226.3% from the September 15th total of 1,473 shares. Based on an average daily trading volume, of 28,590 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of IG Acquisition from a “sell (e)” rating to a “sell (d-)” rating in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company presently has an average rating of “Sell”.

IG Acquisition Trading Up 0.0%

NASDAQ IGAC traded up $0.01 on Tuesday, reaching $10.11. The company had a trading volume of 1,030 shares, compared to its average volume of 39,388. The stock’s 50 day moving average is $10.09 and its 200-day moving average is $10.02. IG Acquisition has a 52 week low of $9.82 and a 52 week high of $10.14.

IG Acquisition (NASDAQ:IGAC) last released its earnings results on Friday, August 7th. The company reported $0.05 earnings per share for the quarter.

Institutional Trading of IG Acquisition

A number of institutional investors and hedge funds have recently modified their holdings of IGAC. Sona Asset Management US LLC acquired a new stake in shares of IG Acquisition in the 1st quarter valued at approximately $1,297,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in IG Acquisition during the 1st quarter worth approximately $4,970,000. Rivernorth Capital Management LLC acquired a new position in IG Acquisition during the first quarter valued at approximately $5,062,000. Radcliffe Capital Management L.P. acquired a new position in IG Acquisition during the fourth quarter valued at approximately $5,412,000. Finally, Governors Lane LP acquired a new position in IG Acquisition during the fourth quarter valued at approximately $492,000. 38.82% of the stock is owned by institutional investors.

IG Acquisition Company Profile

IG Acquisition Corp. (NASDAQ: IGAC) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Unlike an operating company, its primary activities are evaluating potential merger, acquisition, or similar opportunities.

The company does not operate a significant portfolio of products or services of its own. Its business strategy is centered on finding a suitable target company and completing a transaction that would result in the target becoming a publicly traded business.

IG Acquisition Corp.