Newbury Street Acquisition (NASDAQ:NBST) Trading 7.5% Higher – What’s Next?

Newbury Street Acquisition Co. (NASDAQ:NBST) shares rose 7.5% during mid-day trading on Friday . The company traded as high as $11.09 and last traded at $11.09. Approximately 950 shares traded hands during trading, a decline of 91% from the average daily volume of 11,153 shares. The stock had previously closed at $10.32.

Newbury Street Acquisition Price Performance

The stock’s 50 day moving average is $10.64 and its two-hundred day moving average is $10.82.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Newbury Street Acquisition stock. Clear Street LLC grew its stake in Newbury Street Acquisition Co. (NASDAQ:NBST) by 5.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,425 shares of the company’s stock after buying an additional 4,390 shares during the quarter. Clear Street LLC owned 1.58% of Newbury Street Acquisition worth $857,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 35.91% of the company’s stock.

Newbury Street Acquisition Company Profile

Newbury Street Acquisition Corporation does not have significant operations. The company intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on technology business in the consumer internet or media space, including sports and entertainment verticals.