Blue Acquisition Corp/Cayman (NASDAQ:BACC) Stock Short Interest Report for October

Key Points

• Short interest plunged 97.8% to 40 shares as of October 15, down from 1,836 shares on September 30. Short interest represented 0.0% of shares outstanding, with a 0.0-day days-to-cover ratio.
• Analyst opinions were mixed, including Strong Buy, Hold, and Sell ratings, resulting in a MarketBeat consensus rating of Moderate Buy.
• BACC shares were flat at $10.46, within their 52-week range of $10.00 to $11.10. Institutional ownership increased, with Sona Asset Management raising its stake by 70.5% and other investors adding positions.

Blue Acquisition Corp/Cayman (NASDAQ:BACC - Get Free Report) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totaling 40 shares, a decline of 97.8% from the September 30th total of 1,836 shares. Currently, 0.0% of the company's stock are short sold. Based on an average trading volume of 148,103 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BACC. Weiss Ratings upgraded shares of Blue Acquisition Corp/Cayman from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, September 1st. Odeon Capital Group raised shares of Blue Acquisition Corp/Cayman to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, Wall Street Zen raised Blue Acquisition Corp/Cayman to a "hold" rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Blue Acquisition Corp/Cayman Price Performance

BACC remained flat at $10.46 during midday trading on Monday. The company's stock had a trading volume of 9,285 shares, compared to its average volume of 367,402. The firm has a 50 day moving average price of $10.49 and a two-hundred day moving average price of $10.40. Blue Acquisition Corp/Cayman has a fifty-two week low of $10.00 and a fifty-two week high of $11.10.

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

Institutional Trading of Blue Acquisition Corp/Cayman

Institutional investors and hedge funds have recently modified their holdings of the company. Sona Asset Management US LLC lifted its stake in Blue Acquisition Corp/Cayman by 70.5% in the first quarter. Sona Asset Management US LLC now owns 3,342,359 shares of the company's stock worth $34,125,000 after acquiring an additional 1,382,174 shares during the period. Harraden Circle Investments LLC acquired a new position in shares of Blue Acquisition Corp/Cayman in the 2nd quarter valued at $11,286,000. Finally, Berkley W R Corp increased its holdings in shares of Blue Acquisition Corp/Cayman by 40.6% in the first quarter. Berkley W R Corp now owns 441,650 shares of the company's stock valued at $4,509,000 after purchasing an additional 127,428 shares during the period.

Blue Acquisition Corp/Cayman Company Profile

Blue Acquisition Corp. is a Cayman Islands-incorporated special purpose acquisition company (SPAC) that was formed to pursue a business combination with one or more operating companies. Its potential transaction structures may include a merger, share exchange, asset acquisition, share purchase, reorganization or similar corporate combination.

As a blank-check company, Blue Acquisition Corp. does not have significant operating activities, products or services of its own. Its principal activities consist of organizational work, raising capital and identifying a suitable acquisition target.

The company's operations are focused on evaluating opportunities that could provide access to a business or assets through a future transaction.

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