Newbury Street Acquisition (NASDAQ:NBST) Stock Price Up 7.5% – Should You Buy?

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

Newbury Street Acquisition Stock Performance

The stock has a fifty day simple moving average of $10.64 and a 200-day simple moving average of $10.82.

Institutional Investors Weigh In On Newbury Street Acquisition

An institutional investor recently raised its position in Newbury Street Acquisition stock. Clear Street LLC grew its holdings in Newbury Street Acquisition Co. (NASDAQ:NBST) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,425 shares of the company’s stock after buying an additional 4,390 shares during the quarter. Clear Street LLC owned approximately 1.58% of Newbury Street Acquisition worth $857,000 at the end of the most recent reporting period. 35.91% of the stock is owned by hedge funds and other institutional investors.

About Newbury Street Acquisition

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.