Bluemount Holdings Limited (NASDAQ:BMHL) Sees Significant Decrease in Short Interest

Bluemount Holdings Limited (NASDAQ:BMHL) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 6,463 shares, a decline of 36.4% from the June 15th total of 10,169 shares. Based on an average daily volume of 5,650 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Bluemount in a report on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Bluemount Stock Performance

Shares of Bluemount stock traded up $0.04 during midday trading on Friday, hitting $5.80. The company had a trading volume of 5,921 shares, compared to its average volume of 1,834. The company has a fifty day simple moving average of $5.10 and a 200 day simple moving average of $4.12. Bluemount has a 12-month low of $2.72 and a 12-month high of $6.35.

Bluemount (NASDAQ:BMHL) last released its earnings results on Monday, June 29th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $1.76 million for the quarter.

Hedge Funds Weigh In On Bluemount

A hedge fund recently bought a new stake in Bluemount stock. Citadel Advisors LLC purchased a new position in shares of Bluemount Holdings Limited (NASDAQ:BMHL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 58,467 shares of the company’s stock, valued at approximately $202,000. Citadel Advisors LLC owned 0.23% of Bluemount as of its most recent filing with the Securities and Exchange Commission.

About Bluemount

Bluemount, Inc is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company and listed on the Nasdaq Stock Market under the ticker symbol BMHL. As a blank check company, Bluemount has no ongoing commercial operations and was formed to raise capital through an initial public offering for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination.

Following its public listing, Bluemount holds its proceeds in a trust account until it identifies and completes a business combination with one or more target companies.