Apex Technology Acquisition (NASDAQ:APXT) Hits New 1-Year High – Still a Buy?

Shares of Apex Technology Acquisition Co. (NASDAQ:APXT) reached a new 52-week high on Wednesday . The company traded as high as $10.08 and last traded at $10.05, with a volume of 171806 shares traded. The stock had previously closed at $10.05.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings initiated coverage on Apex Technology Acquisition in a research report on Tuesday, May 26th. They set a “sell (e+)” rating for the company. Wall Street Zen upgraded shares of Apex Technology Acquisition to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Apex Technology Acquisition Stock Performance

The stock has a 50-day simple moving average of $10.02 and a two-hundred day simple moving average of $9.96.

Apex Technology Acquisition (NASDAQ:APXT) last issued its earnings results on Thursday, March 26th. The company reported $0.09 earnings per share for the quarter.

Institutional Trading of Apex Technology Acquisition

A number of hedge funds have recently added to or reduced their stakes in APXT. ABC Arbitrage SA bought a new position in Apex Technology Acquisition during the 1st quarter worth about $199,000. Bulldog Investors LLP bought a new stake in shares of Apex Technology Acquisition in the 4th quarter valued at about $425,000. Gritstone Asset Management LLC bought a new stake in shares of Apex Technology Acquisition in the 4th quarter valued at about $494,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Apex Technology Acquisition in the 4th quarter valued at about $494,000. Finally, Sculptor Capital LP purchased a new stake in shares of Apex Technology Acquisition in the 4th quarter worth approximately $522,000. 6.01% of the stock is owned by hedge funds and other institutional investors.

Apex Technology Acquisition Company Profile

Apex Technology Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the software and internet technology industries. The company was incorporated in 2019 and is based in Burlingame, California. Apex Technology Acquisition Corporation is a subsidiary of Apex Technology Sponsor LLC.