Rivernorth Capital Management LLC Buys New Shares in Apex Technology Acquisition Co. $APXT

Key Points

• Rivernorth Capital Management bought 251,464 APXT shares worth approximately $2.5 million, representing about 0.56% of the company.
• Several other institutional investors—including Meteora Capital, Adage Capital, Hudson Bay Capital, HighTower Advisors, and Wolverine Asset Management—also initiated positions; institutions collectively owned 6.01% of APXT.
• APXT traded near $10.12, close to its 52-week range, while analysts maintained a negative outlook: one analyst rated it “Sell” and another rated it “Hold,” resulting in an average “Sell” rating.

Rivernorth Capital Management LLC purchased a new position in shares of Apex Technology Acquisition Co. (NASDAQ:APXT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 251,464 shares of the company's stock, valued at approximately $2,500,000. Rivernorth Capital Management LLC owned about 0.56% of Apex Technology Acquisition as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in APXT. Meteora Capital LLC bought a new position in shares of Apex Technology Acquisition in the fourth quarter worth $27,093,000. Adage Capital Partners GP L.L.C. acquired a new stake in Apex Technology Acquisition during the fourth quarter worth about $22,252,000. Hudson Bay Capital Management LP bought a new position in Apex Technology Acquisition in the 4th quarter valued at about $11,508,000. HighTower Advisors LLC acquired a new position in shares of Apex Technology Acquisition in the 4th quarter valued at approximately $11,272,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of Apex Technology Acquisition during the 4th quarter worth approximately $11,246,000. Institutional investors own 6.01% of the company's stock.

Apex Technology Acquisition Price Performance

Shares of APXT opened at $10.12 on Thursday. The stock's 50-day moving average price is $10.06 and its two-hundred day moving average price is $10.00. Apex Technology Acquisition Co. has a 12 month low of $9.87 and a 12 month high of $10.19.

Apex Technology Acquisition (NASDAQ:APXT - Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The company reported $0.09 earnings per share for the quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on APXT shares. Weiss Ratings began coverage on Apex Technology Acquisition in a report on Tuesday, May 26th. They issued a "sell (e+)" rating on the stock. Wall Street Zen raised Apex Technology Acquisition to a "hold" rating in a report on Saturday, June 20th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Apex Technology Acquisition presently has an average rating of "Sell".

Apex Technology Acquisition Company Profile

Apex Technology Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses in the software and internet technology industries. The company was incorporated in 2019 and is based in Burlingame, California. Apex Technology Acquisition Corporation is a subsidiary of Apex Technology Sponsor LLC.

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