Black Hawk Acquisition Corporation (NASDAQ:BKHA) Sees Large Decline in Short Interest

Key Points

• Short interest fell 83.2% to 53 shares as of September 15, down from 316 shares at the end of August. Short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.4.
• Black Hawk Acquisition shares opened at $12.47, up 3.1%, trading between a 52-week low of $11.00 and high of $13.10. The company most recently reported quarterly EPS of $0.02.
• Investor sentiment remains negative: Weiss Ratings reiterated a “sell (d)” rating, and MarketBeat reports a consensus rating of Sell. Clear Street Group, however, increased its stake by 11.6% to approximately 59,031 shares.

Black Hawk Acquisition Corporation (NASDAQ:BKHA - Get Free Report) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 53 shares, a drop of 83.2% from the August 31st total of 316 shares. Based on an average trading volume of 122 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the company's shares are short sold.

Black Hawk Acquisition Trading Up 3.1%

Shares of NASDAQ BKHA opened at $12.47 on Friday. The firm's 50-day moving average price is $11.94 and its 200-day moving average price is $11.94. Black Hawk Acquisition has a 1-year low of $11.00 and a 1-year high of $13.10.

Black Hawk Acquisition (NASDAQ:BKHA - Get Free Report) last issued its earnings results on Wednesday, July 15th. The company reported $0.02 EPS for the quarter.

Hedge Funds Weigh In On Black Hawk Acquisition

An institutional investor recently raised its position in Black Hawk Acquisition stock. Clear Street Group Inc. raised its stake in shares of Black Hawk Acquisition Corporation (NASDAQ:BKHA - Free Report) by 11.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 59,031 shares of the company's stock after purchasing an additional 6,158 shares during the period. Clear Street Group Inc. owned approximately 1.42% of Black Hawk Acquisition worth $664,000 as of its most recent SEC filing.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Black Hawk Acquisition in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of "Sell".

About Black Hawk Acquisition

Black Hawk Acquisition Corp. NASDAQ: BKHA is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Unlike an operating company, it does not currently offer products or services to customers.

The company's principal objective is to raise capital through the public markets and use those funds, together with other financing, to acquire or merge with a target business. The transaction could provide the target with access to public-market capital and result in the combined company becoming publicly traded.

Black Hawk Acquisition's specific target industry, geographic focus, operating activities and long-term leadership structure depend on the business combination it ultimately pursues.

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