Harraden Circle Investments LLC Takes $11.29 Million Position in Blue Acquisition Corp/Cayman $BACC

Harraden Circle Investments LLC purchased a new stake in shares of Blue Acquisition Corp/Cayman (NASDAQ:BACC) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,064,723 shares of the company’s stock, valued at approximately $11,286,000.

Other institutional investors also recently bought and sold shares of the company. Sona Asset Management US LLC lifted its holdings in Blue Acquisition Corp/Cayman by 70.5% in the first quarter. Sona Asset Management US LLC now owns 3,342,359 shares of the company’s stock worth $34,125,000 after buying an additional 1,382,174 shares during the period. Berkley W R Corp grew its holdings in shares of Blue Acquisition Corp/Cayman by 40.6% during the 1st quarter. Berkley W R Corp now owns 441,650 shares of the company’s stock worth $4,509,000 after acquiring an additional 127,428 shares during the period. Lineage Point Capital LP bought a new position in shares of Blue Acquisition Corp/Cayman in the 4th quarter worth approximately $4,404,000. MYDA Advisors LLC bought a new position in shares of Blue Acquisition Corp/Cayman in the 4th quarter worth approximately $756,000. Finally, Alberta Investment Management Corp purchased a new position in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at approximately $7,147,000.

Blue Acquisition Corp/Cayman Stock Up 0.1%

Shares of NASDAQ BACC opened at $10.51 on Friday. Blue Acquisition Corp/Cayman has a fifty-two week low of $9.96 and a fifty-two week high of $11.10. The company has a 50 day simple moving average of $10.58 and a two-hundred day simple moving average of $10.40.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BACC. Odeon Capital Group upgraded Blue Acquisition Corp/Cayman to a “strong-buy” rating in a research report on Wednesday, July 8th. Wall Street Zen raised Blue Acquisition Corp/Cayman to a “hold” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings upgraded shares of Blue Acquisition Corp/Cayman from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman 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.