Quetta Acquisition (NASDAQ:QETA) Trading Down 2.9% – Should You Sell?

Quetta Acquisition Corporation (NASDAQ:QETA) dropped 2.9% on Tuesday . The stock traded as low as $11.54 and last traded at $11.54. Approximately 285 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 8,530 shares. The stock had previously closed at $11.89.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Quetta Acquisition in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Quetta Acquisition Stock Performance

The stock has a 50 day simple moving average of $11.37 and a 200 day simple moving average of $11.16.

Institutional Trading of Quetta Acquisition

Several large investors have recently bought and sold shares of the company. Wolverine Asset Management LLC grew its stake in shares of Quetta Acquisition by 2.5% during the second quarter. Wolverine Asset Management LLC now owns 157,458 shares of the company’s stock valued at $1,710,000 after acquiring an additional 3,769 shares in the last quarter. Clear Street LLC boosted its holdings in Quetta Acquisition by 185.1% in the second quarter. Clear Street LLC now owns 17,577 shares of the company’s stock valued at $191,000 after purchasing an additional 11,411 shares during the last quarter. Finally, Clear Street Group Inc. purchased a new position in Quetta Acquisition in the third quarter valued at about $197,000. 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.