Short Interest in Blue Acquisition Corp/Cayman (NASDAQ:BACC) Decreases By 35.0%

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the recipient of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 4,291 shares, a decrease of 35.0% from the May 14th total of 6,600 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 18,670 shares, the days-to-cover ratio is presently 0.2 days.

Blue Acquisition Corp/Cayman Price Performance

Shares of Blue Acquisition Corp/Cayman stock opened at $10.47 on Wednesday. Blue Acquisition Corp/Cayman has a 52 week low of $9.95 and a 52 week high of $10.50. The business has a 50 day moving average of $10.36.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last issued its quarterly earnings results on Monday, May 11th. The company reported $0.07 EPS for the quarter.

Institutional Trading of Blue Acquisition Corp/Cayman

A number of institutional investors and hedge funds have recently modified their holdings of BACC. HRT Financial LP purchased a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter valued at approximately $318,000. MYDA Advisors LLC purchased a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter valued at approximately $756,000. Verition Fund Management LLC increased its position in shares of Blue Acquisition Corp/Cayman by 36.4% during the fourth quarter. Verition Fund Management LLC now owns 375,000 shares of the company’s stock valued at $3,829,000 after acquiring an additional 100,000 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter valued at approximately $7,147,000. Finally, Radcliffe Capital Management L.P. increased its position in shares of Blue Acquisition Corp/Cayman by 9.4% during the fourth quarter. Radcliffe Capital Management L.P. now owns 524,100 shares of the company’s stock valued at $5,351,000 after acquiring an additional 44,880 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Blue Acquisition Corp/Cayman has a consensus rating of “Sell”.

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.