Blue Acquisition Corp/Cayman (NASDAQ:BACC) Short Interest Update

Blue Acquisition Corp/Cayman (NASDAQ:BACCGet Free Report) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 10,723 shares, a drop of 57.4% from the July 15th total of 25,162 shares. Based on an average trading volume of 63,701 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Hedge Funds Weigh In On Blue Acquisition Corp/Cayman

Several hedge funds have recently modified their holdings of BACC. Meteora Capital LLC bought a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter worth $136,000. Stoic Point Capital Management LLC bought a new position in Blue Acquisition Corp/Cayman during the fourth quarter valued at about $255,000. HRT Financial LP bought a new position in Blue Acquisition Corp/Cayman during the fourth quarter valued at about $318,000. Heights Capital Management Inc. acquired a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth about $342,000. Finally, Boothbay Fund Management LLC acquired a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth about $464,000.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BACC shares. Wall Street Zen upgraded Blue Acquisition Corp/Cayman to a “hold” rating in a research report on Saturday, July 25th. Odeon Capital Group raised Blue Acquisition Corp/Cayman to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Blue Acquisition Corp/Cayman in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Read Our Latest Stock Report on BACC

Blue Acquisition Corp/Cayman Trading Down 0.3%

Shares of NASDAQ:BACC traded down $0.04 during trading on Friday, reaching $10.51. The company had a trading volume of 328 shares, compared to its average volume of 42,792. The firm’s fifty day moving average is $10.56 and its 200 day moving average is $10.37. Blue Acquisition Corp/Cayman has a twelve month low of $9.95 and a twelve month high of $11.10.

Blue Acquisition Corp/Cayman (NASDAQ:BACCGet Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 EPS for the quarter.

Blue Acquisition Corp/Cayman Company Profile

(Get Free Report)

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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