Swiftmerge Acquisition (NASDAQ:IVCP) Trading Up 24.7% - Time to Buy?

Swiftmerge Acquisition Corp. (NASDAQ:IVCP - Get Free Report)'s share price shot up 24.7% during mid-day trading on Monday . The stock traded as high as $9.50 and last traded at $9.50. 40,009 shares traded hands during mid-day trading, an increase of 64% from the average session volume of 24,355 shares. The stock had previously closed at $7.62.

Swiftmerge Acquisition Trading Up 24.7 %

The firm has a market cap of $64.98 million, a PE ratio of -475.00 and a beta of 0.03. The stock's 50 day moving average price is $9.37 and its 200 day moving average price is $10.45.

Institutional Investors Weigh In On Swiftmerge Acquisition

A number of large investors have recently modified their holdings of IVCP. Berkley W R Corp purchased a new stake in shares of Swiftmerge Acquisition during the second quarter valued at approximately $1,160,000. Quarry LP purchased a new stake in Swiftmerge Acquisition during the 2nd quarter worth $6,088,000. Finally, Wolverine Asset Management LLC lifted its holdings in Swiftmerge Acquisition by 340.1% in the 3rd quarter. Wolverine Asset Management LLC now owns 49,000 shares of the company's stock worth $541,000 after buying an additional 37,866 shares in the last quarter. Institutional investors and hedge funds own 38.10% of the company's stock.

Swiftmerge Acquisition Company Profile

Swiftmerge Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in West Vancouver, Canada.