Indigo Acquisition Corp. (NASDAQ:INAC) Short Interest Down 52.3% in April

Indigo Acquisition Corp. (NASDAQ:INAC) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 1,322 shares, a decline of 52.3% from the April 15th total of 2,773 shares. Based on an average daily trading volume, of 3,204 shares, the short-interest ratio is presently 0.4 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Indigo Acquisition

A number of institutional investors have recently made changes to their positions in INAC. Evercore Wealth Management LLC purchased a new stake in shares of Indigo Acquisition in the 4th quarter valued at $108,000. Toronto Dominion Bank boosted its stake in shares of Indigo Acquisition by 16.4% in 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 in the last quarter. Heights Capital Management Inc. purchased a new stake in shares of Indigo Acquisition in the 4th quarter valued at $1,008,000. Sona Asset Management US LLC purchased a new stake in shares of Indigo Acquisition in the 1st quarter valued at $1,611,000. Finally, Bulldog Investors LLP boosted its stake in shares of Indigo Acquisition by 9.1% in 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 in the last quarter.

Indigo Acquisition Stock Performance

Shares of Indigo Acquisition stock traded up $0.04 during trading on Friday, reaching $10.24. The company’s stock had a trading volume of 991 shares, compared to its average volume of 6,287. Indigo Acquisition has a 52-week low of $9.92 and a 52-week high of $10.24. The firm has a 50-day simple moving average of $10.16.

Indigo Acquisition (NASDAQ:INAC) last announced its quarterly earnings data on Wednesday, March 25th. The company reported $0.09 earnings per share (EPS) for the quarter.

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.