Blue Acquisition Corp/Cayman (NASDAQ:BACC) Stock Short Interest Report for October

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 40 shares, a decline of 97.8% from the September 30th total of 1,836 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 148,103 shares, the days-to-cover ratio is currently 0.0 days.

Blue Acquisition Corp/Cayman Price Performance

BACC stock remained flat at $10.46 during mid-day trading on Monday. 9,285 shares of the company’s stock traded hands, compared to its average volume of 367,402. The firm’s 50-day simple moving average is $10.49 and its two-hundred day simple moving average is $10.40. Blue Acquisition Corp/Cayman has a one year low of $10.00 and a one year high of $11.10.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last announced its earnings results on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Blue Acquisition Corp/Cayman

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Sona Asset Management US LLC grew its holdings in Blue Acquisition Corp/Cayman by 70.5% during the 1st quarter. Sona Asset Management US LLC now owns 3,342,359 shares of the company’s stock worth $34,125,000 after acquiring an additional 1,382,174 shares in the last quarter. Harraden Circle Investments LLC acquired a new position in shares of Blue Acquisition Corp/Cayman during the second quarter worth $11,286,000. Finally, Berkley W R Corp grew its stake in shares of Blue Acquisition Corp/Cayman by 40.6% during the first quarter. Berkley W R Corp now owns 441,650 shares of the company’s stock worth $4,509,000 after purchasing an additional 127,428 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BACC. Wall Street Zen raised shares of Blue Acquisition Corp/Cayman to a “hold” rating in a report on Saturday, July 25th. Odeon Capital Group raised Blue Acquisition Corp/Cayman to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings raised shares of Blue Acquisition Corp/Cayman from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Blue Acquisition Corp/Cayman has a consensus rating of “Moderate Buy”.

About Blue Acquisition Corp/Cayman

Blue Acquisition Corp. is a Cayman Islands-incorporated special purpose acquisition company (SPAC) that was formed to pursue a business combination with one or more operating companies. Its potential transaction structures may include a merger, share exchange, asset acquisition, share purchase, reorganization or similar corporate combination.

As a blank-check company, Blue Acquisition Corp. does not have significant operating activities, products or services of its own. Its principal activities consist of organizational work, raising capital and identifying a suitable acquisition target.

The company’s operations are focused on evaluating opportunities that could provide access to a business or assets through a future transaction.