StoneBridge Acquisition (NASDAQ:APAC) Stock Price Up 43%

StoneBridge Acquisition Co. (NASDAQ:APAC) was up 43% during trading on Monday . The stock traded as high as $12.97 and last traded at $11.70. Approximately 115,600 shares changed hands during mid-day trading, an increase of 405% from the average daily volume of 22,909 shares. The stock had previously closed at $8.18.

StoneBridge Acquisition Stock Performance

The business has a 50-day simple moving average of $9.68 and a two-hundred day simple moving average of $10.53.

Insider Buying and Selling

In related news, CEO Bhargava Marepally acquired 110 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $900.00 per share, for a total transaction of $99,000.00. Following the acquisition, the chief executive officer now directly owns 110 shares of the company’s stock, valued at $99,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Prabhu Antony acquired 230 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $1,725.00 per share, with a total value of $396,750.00. Following the transaction, the chief financial officer now directly owns 230 shares in the company, valued at approximately $396,750. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Bhargava Marepally bought 110 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was purchased at an average cost of $900.00 per share, for a total transaction of $99,000.00. Following the completion of the acquisition, the chief executive officer now owns 110 shares in the company, valued at approximately $99,000. The disclosure for this purchase can be found here. 67.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On StoneBridge Acquisition

A hedge fund recently raised its stake in StoneBridge Acquisition stock. Shaolin Capital Management LLC lifted its stake in shares of StoneBridge Acquisition Co. (NASDAQ:APAC) by 200.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 114,678 shares of the company’s stock after buying an additional 229,356 shares during the quarter. Shaolin Capital Management LLC owned about 1.54% of StoneBridge Acquisition worth $1,267,000 as of its most recent SEC filing. 19.18% of the stock is owned by hedge funds and other institutional investors.

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.