Black Hawk Acquisition (NASDAQ:BKHA) Shares Up 1.7% - Time to Buy?

Key Points

• Black Hawk Acquisition Corporation's shares increased by 1.7% on Friday, reaching a last trading price of $11.26 with significantly higher trading volume compared to the average.
• Despite the stock's rise, Weiss Ratings has maintained a "sell" rating for Black Hawk Acquisition, indicating a cautious outlook from analysts.
• Institutional investors have shown interest in the company, with various firms increasing their stakes in the past quarters, including a notable investment by Westchester Capital Management LLC at approximately $3.16 million.

Black Hawk Acquisition Corporation (NASDAQ:BKHA - Get Free Report) shot up 1.7% during trading on Friday . The company traded as high as $11.20 and last traded at $11.26. 3,827 shares were traded during mid-day trading, an increase of 333% from the average session volume of 884 shares. The stock had previously closed at $11.07.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Black Hawk Acquisition in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Black Hawk Acquisition presently has an average rating of "Sell".

Black Hawk Acquisition Stock Performance

The business has a 50 day moving average of $11.07 and a two-hundred day moving average of $10.83.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Gabelli Funds LLC acquired a new position in Black Hawk Acquisition during the 1st quarter worth approximately $237,000. Clear Street LLC raised its stake in shares of Black Hawk Acquisition by 5.3% in the second quarter. Clear Street LLC now owns 51,600 shares of the company's stock worth $548,000 after purchasing an additional 2,600 shares during the last quarter. Westchester Capital Management LLC purchased a new stake in shares of Black Hawk Acquisition in the first quarter worth approximately $3,162,000. Wolverine Asset Management LLC raised its stake in shares of Black Hawk Acquisition by 10.2% in the first quarter. Wolverine Asset Management LLC now owns 351,530 shares of the company's stock worth $3,702,000 after purchasing an additional 32,461 shares during the last quarter. Finally, Berkley W R Corp raised its stake in shares of Black Hawk Acquisition by 5.6% in the second quarter. Berkley W R Corp now owns 462,496 shares of the company's stock worth $4,917,000 after purchasing an additional 24,441 shares during the last quarter.

About Black Hawk Acquisition

Black Hawk Acquisition Corporation focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2023 and is based in Danville, California.

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