Blue Acquisition Corp/Cayman (NASDAQ:BACC) Stock Rating Upgraded by Odean Cap Resea

Key Points

• Blue Acquisition Corp/Cayman was upgraded to a strong-buy by Odean Cap Resea, though Weiss Ratings separately nudged the stock from sell (e+) to sell (d-).
• The stock was trading around $11.02, near its 52-week high of $11.10, and above its 50-day moving average of $10.50.
• The company recently reported quarterly EPS of $0.07 and continues to operate as a SPAC, seeking a merger or other business combination.

Blue Acquisition Corp/Cayman (NASDAQ:BACC - Get Free Report) was upgraded by stock analysts at Odean Cap Resea to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings raised shares of Blue Acquisition Corp/Cayman from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Blue Acquisition Corp/Cayman presently has a consensus rating of "Moderate Buy".

Blue Acquisition Corp/Cayman Trading Down 0.4%

Shares of NASDAQ BACC opened at $11.02 on Wednesday. Blue Acquisition Corp/Cayman has a fifty-two week low of $9.95 and a fifty-two week high of $11.10. The business has a 50 day simple moving average of $10.50.

Blue Acquisition Corp/Cayman (NASDAQ:BACC - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported $0.07 earnings per share for the quarter.

Institutional Investors Weigh In On Blue Acquisition Corp/Cayman

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meteora Capital LLC purchased a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter worth $136,000. Stoic Point Capital Management LLC purchased a new position in shares of Blue Acquisition Corp/Cayman in the fourth quarter worth about $255,000. HRT Financial LP purchased a new position in shares of Blue Acquisition Corp/Cayman in the fourth quarter worth about $318,000. Heights Capital Management Inc. acquired a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth about $342,000. Finally, Boothbay Fund Management LLC acquired a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth about $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.

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