Newbury Street Acquisition (NASDAQ:NBST) Stock Price Down 5.1% – What’s Next?

Shares of Newbury Street Acquisition Co. (NASDAQ:NBST) traded down 5.1% during trading on Monday . The stock traded as low as $11.00 and last traded at $11.00. 1,000 shares traded hands during trading, a decline of 91% from the average session volume of 11,064 shares. The stock had previously closed at $11.59.

Newbury Street Acquisition Price Performance

The firm has a 50-day moving average price of $10.87 and a 200 day moving average price of $10.89.

Hedge Funds Weigh In On Newbury Street Acquisition

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

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.