Berto Acquisition Corp. (NASDAQ:TACO) Sees Significant Decline in Short Interest

Key Points

• Short interest plunged 53.8% to 2,116 shares as of April 15, leaving roughly 0.0% of shares short and a days-to-cover ratio of 0.0 due to high average daily volume.
• Several institutional investors built or enlarged positions—Moore Capital bought a new stake (~$10.42M) and Berkley W.R. boosted its stake by 932.8% to about 1,024,734 shares (~$10.39M), while Verbena, Hudson Bay and Tenor also established multi‑million dollar stakes.
• Shares trade near $10.31 with 50‑ and 200‑day moving averages around $10.22, a 12‑month range of $10.11–$11.32, and the consensus analyst rating is Sell (Weiss Ratings reiterated a "sell (e+)").

Berto Acquisition Corp. (NASDAQ:TACO - Get Free Report) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 2,116 shares, a decrease of 53.8% from the March 31st total of 4,576 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 69,731 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Investors Weigh In On Berto Acquisition

A number of institutional investors and hedge funds have recently bought and sold shares of TACO. Moore Capital Management LP purchased a new stake in Berto Acquisition in the second quarter valued at approximately $10,420,000. Berkley W R Corp raised its stake in Berto Acquisition by 932.8% in the fourth quarter. Berkley W R Corp now owns 1,024,734 shares of the restaurant operator's stock valued at $10,391,000 after purchasing an additional 925,514 shares in the last quarter. Verbena Value LP purchased a new stake in Berto Acquisition in the fourth quarter valued at approximately $9,103,000. Hudson Bay Capital Management LP purchased a new stake in Berto Acquisition in the second quarter valued at approximately $8,571,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in Berto Acquisition in the second quarter valued at approximately $8,336,000.

Berto Acquisition Stock Performance

TACO stock opened at $10.31 on Friday. The firm has a 50 day moving average of $10.22 and a 200-day moving average of $10.23. Berto Acquisition has a 12 month low of $10.11 and a 12 month high of $11.32.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Berto Acquisition in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

Berto Acquisition Company Profile

Del Taco Restaurants, Inc develops, franchises, owns, and operates Del Taco quick-service Mexican-American restaurants in the United States. The company's restaurants offer Mexican inspired and American classic dishes. As of August 31, 2021, it operated approximately 600 restaurants across 16 states. The company was founded in 1964 and is headquartered in Lake Forest, California.

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