Quetta Acquisition (NASDAQ:QETA) Shares Up 0.3% – Should You Buy?

Shares of Quetta Acquisition Corporation (NASDAQ:QETA) rose 0.3% during trading on Friday . The company traded as high as $11.34 and last traded at $11.2810. Approximately 2,203 shares were traded during mid-day trading, an increase of 53% from the average daily volume of 1,439 shares. The stock had previously closed at $11.25.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Quetta Acquisition in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Quetta Acquisition Stock Up 0.3%

The company has a 50 day moving average price of $11.27 and a 200-day moving average price of $11.03.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of QETA. Clear Street Group Inc. bought a new stake in Quetta Acquisition in the third quarter valued at $197,000. Clear Street LLC grew its stake in shares of Quetta Acquisition by 185.1% in the 2nd quarter. Clear Street LLC now owns 17,577 shares of the company’s stock valued at $191,000 after buying an additional 11,411 shares during the period. Finally, Wolverine Asset Management LLC increased its position in Quetta Acquisition by 2.5% in the 2nd quarter. Wolverine Asset Management LLC now owns 157,458 shares of the company’s stock valued at $1,710,000 after buying an additional 3,769 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

Quetta Acquisition Company Profile

Quetta Acquisition Corporation focuses on effecting a merger, capital stock exchange, share purchase, asset acquisition, recapitalization, reorganization, or related business combination with one or more businesses. It intends to focus on financial technology sector in Asia. The company was incorporated in 2023 and is based in New York, New York.