Blue Acquisition Corp/Cayman (NASDAQ:BACC – Get Free Report) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 24,785 shares, a growth of 90.1% from the June 15th total of 13,039 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 409,813 shares, the short-interest ratio is currently 0.1 days.
Analyst Ratings Changes
Several brokerages recently commented on BACC. Weiss Ratings raised Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. Odean Cap Resea raised Blue Acquisition Corp/Cayman to a “strong-buy” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.
View Our Latest Research Report on Blue Acquisition Corp/Cayman
Institutional Inflows and Outflows
Blue Acquisition Corp/Cayman Trading Up 0.5%
Blue Acquisition Corp/Cayman stock traded up $0.06 during midday trading on Friday, hitting $10.64. The company’s stock had a trading volume of 7,576 shares, compared to its average volume of 117,369. Blue Acquisition Corp/Cayman has a 12 month low of $9.95 and a 12 month high of $11.10. The business’s 50-day simple moving average is $10.53.
Blue Acquisition Corp/Cayman (NASDAQ:BACC – Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.07 earnings per share for the quarter.
Blue Acquisition Corp/Cayman Company Profile
Blue Acquisition Corp/Cayman (NASDAQ: BACC) is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company. As a blank-check vehicle, its primary business activity is to raise capital through its public listing and use those proceeds to identify, negotiate and complete a merger, acquisition, share exchange, asset acquisition, reorganization or similar business combination with one or more operating businesses.
Like other SPACs, Blue Acquisition typically holds the funds raised in trust pending the completion of a qualifying business combination and provides public investors with the opportunity to vote on proposed transactions and to seek redemption of their shares in accordance with the company’s governing documents.
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