Blue Water Acquisition Corp. III (NASDAQ:BLUW) Sees Large Decline in Short Interest

Key Points

• Short interest fell 40.5% to 1,924 shares as of July 15, down from 3,231 shares on June 30. Short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.2.
• BLUW shares recently traded at $10.37, near their 52-week high of $10.41, while the company reported a quarterly loss of $0.03 per share.
• Weiss Ratings reaffirmed a “sell (D-)” rating, and the stock’s sole analyst rating remains “Sell.” Several institutional investors, including AQR Arbitrage and TENOR Capital Management, recently acquired positions.

Blue Water Acquisition Corp. III (NASDAQ:BLUW - Get Free Report) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 1,924 shares, a drop of 40.5% from the June 30th total of 3,231 shares. Based on an average daily volume of 12,542 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Blue Water Acquisition Corp. III Price Performance

BLUW stock traded up $0.01 on Thursday, reaching $10.37. The company had a trading volume of 26,014 shares, compared to its average volume of 23,902. Blue Water Acquisition Corp. III has a 1 year low of $9.93 and a 1 year high of $10.41. The company's fifty day moving average is $10.31 and its 200 day moving average is $10.31.

Blue Water Acquisition Corp. III (NASDAQ:BLUW - Get Free Report) last posted its earnings results on Tuesday, April 14th. The company reported ($0.03) earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Blue Water Acquisition Corp. III in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of "Sell".

Institutional Trading of Blue Water Acquisition Corp. III

A number of institutional investors have recently bought and sold shares of BLUW. BNP Paribas Financial Markets acquired a new position in shares of Blue Water Acquisition Corp. III during the third quarter valued at about $3,455,000. Two Sigma Investments LP bought a new position in Blue Water Acquisition Corp. III in the 3rd quarter valued at about $7,943,000. Virtu Financial LLC acquired a new stake in Blue Water Acquisition Corp. III during the third quarter worth about $4,566,000. AQR Arbitrage LLC acquired a new stake in Blue Water Acquisition Corp. III in the third quarter valued at approximately $11,485,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in Blue Water Acquisition Corp. III during the 3rd quarter worth about $9,970,000.

About Blue Water Acquisition Corp. III

Blue Water Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Greenwich, Connecticut.

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