Berto Acquisition (NASDAQ:TACO) Stock Passes Above Fifty Day Moving Average - Here's Why

Key Points

• Berto Acquisition shares briefly moved above their 50-day moving average of $10.46, reaching $10.48 before last trading at $10.46 on volume of 35,954 shares.
• Analyst sentiment remains negative: Wall Street Zen downgraded the stock to “sell,” Weiss Ratings reiterated a “sell (D-)” rating, and MarketBeat reports an average rating of “Sell.”
• The company reported quarterly earnings of $0.03 per share, while several hedge funds increased their positions, including Wolverine Asset Management, Citadel Advisors, and Cannon Global Investment Management.

Berto Acquisition Corp. (NASDAQ:TACO - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $10.46 and traded as high as $10.48. Berto Acquisition shares last traded at $10.46, with a volume of 35,954 shares.

Wall Street Analysts Forecast Growth

TACO has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Berto Acquisition from a "hold" rating to a "sell" rating in a research note on Saturday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Berto Acquisition in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of "Sell".

Berto Acquisition Stock Performance

The business's 50 day simple moving average is $10.46 and its 200-day simple moving average is $10.35.

Berto Acquisition (NASDAQ:TACO - Get Free Report) last posted its quarterly earnings results on Friday, August 14th. The restaurant operator reported $0.03 earnings per share for the quarter.

Institutional Inflows and Outflows

• It Is Time To Take A Bite Out Of Del Taco Restaurants NASDAQ: TACO

Hedge funds have recently made changes to their positions in the stock. Radcliffe Capital Management L.P. lifted its holdings in Berto Acquisition by 0.9% in the 4th quarter. Radcliffe Capital Management L.P. now owns 347,482 shares of the restaurant operator's stock worth $3,523,000 after purchasing an additional 3,100 shares during the last quarter. Cannon Global Investment Management LLC grew its stake in Berto Acquisition by 12.7% in the 1st quarter. Cannon Global Investment Management LLC now owns 41,700 shares of the restaurant operator's stock valued at $427,000 after buying an additional 4,700 shares during the last quarter. Citadel Advisors LLC grew its stake in Berto Acquisition by 21.9% in the 3rd quarter. Citadel Advisors LLC now owns 53,279 shares of the restaurant operator's stock valued at $555,000 after buying an additional 9,589 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in Berto Acquisition by 40.8% in the 4th quarter. Wolverine Asset Management LLC now owns 33,489 shares of the restaurant operator's stock worth $340,000 after acquiring an additional 9,704 shares during the period. Finally, Levin Capital Strategies L.P. bought a new position in Berto Acquisition in the 1st quarter worth $102,000.

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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