Bluemount Holdings Limited (NASDAQ:BMHL) Sees Significant Decrease in Short Interest

Key Points

• Short interest in Bluemount Holdings fell sharply in June, dropping 36.4% to 6,463 shares as of June 30. That left the stock with a low days-to-cover ratio of 1.1 days.
• Analyst sentiment remains negative, with Weiss Ratings reiterating a "sell (d-)" rating and MarketBeat showing an average rating of "Sell" for BMHL.
• The stock traded near its recent highs, closing at $5.80 on Friday versus a 52-week range of $2.72 to $6.35. Bluemount also reported a small quarterly loss of $0.02 per share on revenue of $1.76 million.

Bluemount Holdings Limited (NASDAQ:BMHL - Get Free Report) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 6,463 shares, a decline of 36.4% from the June 15th total of 10,169 shares. Based on an average daily volume of 5,650 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.0% of the company's stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Bluemount in a report on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of "Sell".

Bluemount Stock Performance

Shares of Bluemount stock traded up $0.04 during midday trading on Friday, hitting $5.80. The company had a trading volume of 5,921 shares, compared to its average volume of 1,834. The company has a fifty day simple moving average of $5.10 and a 200 day simple moving average of $4.12. Bluemount has a 12-month low of $2.72 and a 12-month high of $6.35.

Bluemount (NASDAQ:BMHL - Get Free Report) last released its earnings results on Monday, June 29th. The company reported ($0.02) earnings per share for the quarter. The business had revenue of $1.76 million for the quarter.

Hedge Funds Weigh In On Bluemount

A hedge fund recently bought a new stake in Bluemount stock. Citadel Advisors LLC purchased a new position in shares of Bluemount Holdings Limited (NASDAQ:BMHL - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 58,467 shares of the company's stock, valued at approximately $202,000. Citadel Advisors LLC owned 0.23% of Bluemount as of its most recent filing with the Securities and Exchange Commission.

About Bluemount

Bluemount, Inc is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company and listed on the Nasdaq Stock Market under the ticker symbol BMHL. As a blank check company, Bluemount has no ongoing commercial operations and was formed to raise capital through an initial public offering for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination.

Following its public listing, Bluemount holds its proceeds in a trust account until it identifies and completes a business combination with one or more target companies.

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