Blue Acquisition Corp/Cayman (NASDAQ:BACC – Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 5,073 shares, a growth of 215.1% from the April 15th total of 1,610 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 24,103 shares, the days-to-cover ratio is currently 0.2 days.
Institutional Investors Weigh In On Blue Acquisition Corp/Cayman
A number of institutional investors have recently modified their holdings of the stock. Sona Asset Management US LLC bought a new position in shares of Blue Acquisition Corp/Cayman during the fourth quarter valued at $20,013,000. TENOR CAPITAL MANAGEMENT Co. L.P. boosted its stake in Blue Acquisition Corp/Cayman by 9.8% in the 4th quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 1,317,152 shares of the company’s stock worth $13,448,000 after purchasing an additional 117,152 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in Blue Acquisition Corp/Cayman during the 4th quarter valued at about $7,147,000. Radcliffe Capital Management L.P. grew its position in Blue Acquisition Corp/Cayman by 9.4% during the 4th quarter. Radcliffe Capital Management L.P. now owns 524,100 shares of the company’s stock valued at $5,351,000 after purchasing an additional 44,880 shares during the last quarter. Finally, Lineage Point Capital LP bought a new stake in Blue Acquisition Corp/Cayman during the 4th quarter valued at about $4,404,000.
Blue Acquisition Corp/Cayman Stock Performance
Shares of NASDAQ BACC traded down $0.05 on Thursday, reaching $10.37. 574 shares of the company’s stock traded hands, compared to its average volume of 57,706. The company has a 50 day moving average of $10.24. Blue Acquisition Corp/Cayman has a 12 month low of $9.95 and a 12 month high of $10.50.
Analyst Ratings Changes
Separately, Weiss Ratings raised shares of Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.
Check Out Our Latest Report on BACC
About Blue Acquisition Corp/Cayman
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.
Featured Articles
- Five stocks we like better than Blue Acquisition Corp/Cayman
- Chime Finally Turns Profitable—But Risks Remain
- eVTOL Investing: Ditch the Taxi, Buy the Blueprint
- How Berkshire’s New York Times Bet Looks Today
- Affirm’s Google Deal Aims for Your Wallet
Receive News & Ratings for Blue Acquisition Corp/Cayman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blue Acquisition Corp/Cayman and related companies with MarketBeat.com's FREE daily email newsletter.
