Newbury Street Acquisition (NASDAQ:NBST) Shares Down 5.1% – Time to Sell?

Newbury Street Acquisition Co. (NASDAQ:NBST)’s stock price was down 5.1% during trading on Monday . The company traded as low as $11.00 and last traded at $11.00. Approximately 1,000 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 11,064 shares. The stock had previously closed at $11.59.

Newbury Street Acquisition Trading Down 5.1 %

The firm’s fifty day moving average price is $10.86 and its two-hundred day moving average price is $10.89.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Newbury Street Acquisition stock. Clear Street LLC grew its stake in shares of Newbury Street Acquisition Co. (NASDAQ:NBST) by 5.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 78,425 shares of the company’s stock after purchasing an additional 4,390 shares during the period. Clear Street LLC owned about 1.58% of Newbury Street Acquisition worth $857,000 as of its most recent filing with the SEC. 35.91% of the stock is currently owned by institutional investors.

Newbury Street Acquisition Company Profile

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.