Berto Acquisition Corp. (NASDAQ:TACO) Short Interest Update

Key Points

• Short interest in Berto Acquisition (NASDAQ:TACO) surged in June, rising 823.6% to 9,356 shares as of June 30 from 1,013 shares on June 15. Despite the jump, the stock’s days-to-cover ratio remains low at 0.1 days.
• The stock traded mostly flat at $10.52, staying near its 52-week range of $10.11 to $10.69 and slightly below recent trading averages.
• Analyst sentiment remains negative, with Weiss Ratings reiterating a “sell (d-)” rating and MarketBeat showing an overall average rating of “Sell.”

Berto Acquisition Corp. (NASDAQ:TACO - Get Free Report) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 9,356 shares, an increase of 823.6% from the June 15th total of 1,013 shares. Based on an average trading volume of 77,542 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Berto Acquisition Stock Performance

NASDAQ:TACO remained flat at $10.52 during trading hours on Friday. 96,261 shares of the company's stock were exchanged, compared to its average volume of 103,570. Berto Acquisition has a 52 week low of $10.11 and a 52 week high of $10.69. The stock has a fifty day moving average of $10.43 and a 200-day moving average of $10.28.

Berto Acquisition (NASDAQ:TACO - Get Free Report) last announced its earnings results on Tuesday, March 31st. The restaurant operator reported $0.15 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Berto Acquisition

Several large investors have recently bought and sold shares of TACO. Berkley W R Corp raised its stake in Berto Acquisition by 77.9% in the 1st quarter. Berkley W R Corp now owns 1,822,598 shares of the restaurant operator's stock valued at $18,682,000 after purchasing an additional 797,864 shares during the last quarter. Centiva Capital LP grew its holdings in shares of Berto Acquisition by 69.0% during the third quarter. Centiva Capital LP now owns 1,401,778 shares of the restaurant operator's stock worth $14,593,000 after buying an additional 572,252 shares in the last quarter. Hudson Bay Capital Management LP grew its holdings in shares of Berto Acquisition by 54.0% during the third quarter. Hudson Bay Capital Management LP now owns 1,266,599 shares of the restaurant operator's stock worth $13,185,000 after buying an additional 444,007 shares in the last quarter. Moore Capital Management LP acquired a new stake in shares of Berto Acquisition in the second quarter valued at about $10,420,000. Finally, Verbena Value LP acquired a new stake in shares of Berto Acquisition in the fourth quarter valued at about $9,103,000.

Analyst Ratings Changes

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Berto Acquisition in a research note on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Berto Acquisition currently has an average rating of "Sell".

About Berto Acquisition

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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