MYDA Advisors LLC Buys Shares of 74,000 Blue Acquisition Corp/Cayman $BACC

MYDA Advisors LLC bought a new stake in Blue Acquisition Corp/Cayman (NASDAQ:BACC) in the 4th quarter, HoldingsChannel reports. The fund bought 74,000 shares of the company’s stock, valued at approximately $756,000.

Separately, HRT Financial LP acquired a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at approximately $318,000.

Analyst Upgrades and Downgrades

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

Blue Acquisition Corp/Cayman Stock Performance

Shares of BACC opened at $10.44 on Monday. Blue Acquisition Corp/Cayman has a 1-year low of $9.95 and a 1-year high of $10.50. The firm’s fifty day moving average is $10.35.

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

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.