Newbury Street Acquisition (NASDAQ:NBST) Shares Up 7.5% – Still a Buy?

Shares of Newbury Street Acquisition Co. (NASDAQ:NBST) traded up 7.5% during trading on Friday . The company traded as high as $11.09 and last traded at $11.09. 950 shares were traded 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 Price Performance

The firm has a 50-day moving average price of $10.64 and a two-hundred day moving average price 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 raised its stake in Newbury Street Acquisition Co. (NASDAQ:NBST) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,425 shares of the company’s stock after purchasing an additional 4,390 shares during the period. Clear Street LLC owned 1.58% of Newbury Street Acquisition worth $857,000 as of its most recent SEC filing. 35.91% of the stock is currently owned by institutional investors and hedge funds.

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.