Harraden Circle Investments LLC Takes Position in Blue Acquisition Corp/Cayman $BACC

Key Points

• Harraden Circle Investments acquired 1,064,723 shares of Blue Acquisition Corp/Cayman, valued at approximately $11.3 million, giving it a 3.81% stake.
• Several other institutional investors also established new positions, while analyst opinions remained mixed; the stock carries a consensus “Moderate Buy” rating.
• BACC opened at $10.51 and has traded between $9.96 and $11.10 over the past year. The company most recently reported quarterly earnings of $0.06 per share.

Harraden Circle Investments LLC acquired a new position in Blue Acquisition Corp/Cayman (NASDAQ:BACC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 1,064,723 shares of the company's stock, valued at approximately $11,286,000. Harraden Circle Investments LLC owned 3.81% of Blue Acquisition Corp/Cayman at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Meteora Capital LLC purchased a new stake in Blue Acquisition Corp/Cayman during the 4th quarter valued at about $136,000. Stoic Point Capital Management LLC bought a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at approximately $255,000. HRT Financial LP bought a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at approximately $318,000. Heights Capital Management Inc. bought a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at approximately $342,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter valued at approximately $464,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BACC shares. Odeon Capital Group upgraded shares of Blue Acquisition Corp/Cayman to a "strong-buy" rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Blue Acquisition Corp/Cayman from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday. Finally, Wall Street Zen raised shares of Blue Acquisition Corp/Cayman to a "hold" rating in a research report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Blue Acquisition Corp/Cayman has a consensus rating of "Moderate Buy".

Blue Acquisition Corp/Cayman Stock Up 0.1%

BACC opened at $10.51 on Friday. The business has a 50 day simple moving average of $10.58 and a two-hundred day simple moving average of $10.40. Blue Acquisition Corp/Cayman has a one year low of $9.96 and a one year high of $11.10.

Blue Acquisition Corp/Cayman (NASDAQ:BACC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share for the quarter.

About Blue Acquisition Corp/Cayman

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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