Blue Acquisition Corp/Cayman (NASDAQ:BACC) Upgraded at Wall Street Zen

Key Points

• Blue Acquisition Corp/Cayman (NASDAQ:BACC) was upgraded by Wall Street Zen to a “hold” rating, while other analysts remain mixed on the stock.
• MarketBeat data shows the stock has a consensus rating of “Moderate Buy”, with recent analyst actions including Odeon Capital Group’s “strong-buy” upgrade and Weiss Ratings’ move to a less negative sell rating.
• The shares opened at $10.46, near their 52-week range of $9.95 to $11.10, and the company last reported quarterly earnings of $0.07 EPS.

Blue Acquisition Corp/Cayman (NASDAQ:BACC - Get Free Report) was upgraded by investment analysts at Wall Street Zen to a "hold" rating in a research note issued to investors on Saturday.

Several other equities analysts have also issued reports on the company. Odeon Capital Group raised Blue Acquisition Corp/Cayman to a "strong-buy" rating in a report on Wednesday, July 8th. Weiss Ratings raised Blue Acquisition Corp/Cayman from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy".

Blue Acquisition Corp/Cayman Stock Performance

Shares of Blue Acquisition Corp/Cayman stock opened at $10.46 on Friday. Blue Acquisition Corp/Cayman has a 52 week low of $9.95 and a 52 week high of $11.10. The company has a 50 day moving average of $10.54.

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

Hedge Funds Weigh In On Blue Acquisition Corp/Cayman

Institutional investors have recently added to or reduced their stakes in the stock. Meteora Capital LLC purchased a new position in Blue Acquisition Corp/Cayman in the fourth quarter worth $136,000. Stoic Point Capital Management LLC purchased a new stake in shares of Blue Acquisition Corp/Cayman during the 4th quarter worth $255,000. HRT Financial LP acquired a new position in shares of Blue Acquisition Corp/Cayman during the 4th quarter worth $318,000. Heights Capital Management Inc. acquired a new position in shares of Blue Acquisition Corp/Cayman during the 4th quarter worth $342,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at 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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