Berto Acquisition Corp. (NASDAQ:TACO) Short Interest Update

Key Points

• Short interest surged 76.2% to 25,746 shares as of August 31, representing about 0.1% of TACO’s outstanding stock and a short-interest ratio of 1.0 days.
• Institutional investors showed increased interest, with several firms initiating positions and Berkley W R Corp. raising its stake by 77.9% to 1.82 million shares.
• Analyst sentiment remains negative: Wall Street Zen downgraded the stock to “sell,” Weiss Ratings maintained a “sell” rating, and the overall consensus is “Sell.”

Berto Acquisition Corp. (NASDAQ:TACO - Get Free Report) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 25,746 shares, an increase of 76.2% from the August 15th total of 14,610 shares. Approximately 0.1% of the company's stock are sold short. Based on an average daily volume of 24,596 shares, the short-interest ratio is presently 1.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TACO. SkyView Investment Advisors LLC bought a new stake in shares of Berto Acquisition during the 2nd quarter valued at about $4,549,000. Governors Lane LP bought a new stake in Berto Acquisition during the second quarter valued at approximately $14,162,000. Sona Asset Management US LLC purchased a new stake in Berto Acquisition during the first quarter valued at approximately $1,697,000. Berkley W R Corp raised its position in Berto Acquisition by 77.9% in the first quarter. Berkley W R Corp now owns 1,822,598 shares of the restaurant operator's stock worth $18,682,000 after acquiring an additional 797,864 shares during the period. Finally, Levin Capital Strategies L.P. bought a new position in Berto Acquisition in the first quarter worth approximately $102,000.

Wall Street Analyst Weigh In

TACO has been the subject of several recent analyst reports. Wall Street Zen cut shares of Berto Acquisition from a "hold" rating to a "sell" rating in a report on Saturday, August 22nd. Weiss Ratings upgraded shares of Berto Acquisition from a "sell (d-)" rating to a "sell (d)" rating in a report on Monday, August 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of "Sell".

Berto Acquisition Price Performance

TACO traded down $0.03 during midday trading on Wednesday, hitting $10.44. 62,254 shares of the company traded hands, compared to its average volume of 85,305. The company's 50-day moving average is $10.47 and its 200 day moving average is $10.38. Berto Acquisition has a 52 week low of $10.11 and a 52 week high of $10.65.

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Berto Acquisition (NASDAQ:TACO - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The restaurant operator reported $0.03 earnings per share for the quarter.

About Berto Acquisition

Berto Acquisition Corp. NASDAQ: TACO is a special purpose acquisition company, or SPAC. Unlike an operating company, it was formed to raise capital through a public offering and use the proceeds to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more private companies.

Because Berto Acquisition Corp. is a blank-check company, it does not have an established portfolio of products or services, operating divisions, or a defined customer base.

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