Odean Cap Resea Upgrades Blue Acquisition Corp/Cayman (NASDAQ:BACC) to “Strong-Buy”

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was upgraded by Odean Cap Resea to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings raised Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Trading Down 0.4%

Shares of BACC stock traded down $0.04 during trading hours on Wednesday, reaching $11.02. 65,226 shares of the company’s stock were exchanged, compared to its average volume of 320,543. The business’s 50 day moving average price is $10.50. Blue Acquisition Corp/Cayman has a fifty-two week low of $9.95 and a fifty-two week high of $11.10.

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

Institutional Investors Weigh In On Blue Acquisition Corp/Cayman

A number of large investors have recently made changes to their positions in the stock. Meteora Capital LLC purchased a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth about $136,000. Stoic Point Capital Management LLC acquired a new position in Blue Acquisition Corp/Cayman in the fourth quarter valued at approximately $255,000. HRT Financial LP purchased a new position in Blue Acquisition Corp/Cayman in the fourth quarter worth approximately $318,000. Heights Capital Management Inc. acquired a new stake in Blue Acquisition Corp/Cayman during the fourth quarter worth $342,000. Finally, Boothbay Fund Management LLC purchased a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at $464,000.

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.