Berto Acquisition (NASDAQ:TACO) Shares Pass Below Fifty Day Moving Average - Time to Sell?

Key Points

• Berto Acquisition shares fell below their 50-day moving average, trading as low as $10.45 versus the $10.47 average, on volume of 16,908 shares.
• Analyst sentiment is bearish: Weiss Ratings maintained a “sell” view, Wall Street Zen downgraded the stock to “sell,” and the consensus rating is “Sell.”
• Berto Acquisition is a SPAC without operating products, divisions, or a defined customer base; it reported quarterly EPS of $0.03, while several institutional investors recently increased or initiated positions.

Berto Acquisition Corp. (NASDAQ:TACO - Get Free Report) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.47 and traded as low as $10.45. Berto Acquisition shares last traded at $10.45, with a volume of 16,908 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TACO shares. Weiss Ratings raised shares of Berto Acquisition from a "sell (d-)" rating to a "sell (d)" rating in a research report on Monday, August 24th. Wall Street Zen downgraded shares of Berto Acquisition from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Berto Acquisition currently has a consensus rating of "Sell".

Berto Acquisition Price Performance

The company's 50-day moving average price is $10.47 and its two-hundred day moving average price is $10.39.

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

Institutional Inflows and Outflows

• It Is Time To Take A Bite Out Of Del Taco Restaurants NASDAQ: TACO

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TACO. Levin Capital Strategies L.P. bought a new stake in Berto Acquisition in the 1st quarter valued at about $102,000. Cannon Global Investment Management LLC grew its position in Berto Acquisition by 12.7% during the first quarter. Cannon Global Investment Management LLC now owns 41,700 shares of the restaurant operator's stock worth $427,000 after buying an additional 4,700 shares in the last quarter. Jefferies Financial Group Inc. increased its stake in Berto Acquisition by 591.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 130,774 shares of the restaurant operator's stock worth $1,326,000 after acquiring an additional 111,860 shares during the period. Sona Asset Management US LLC bought a new position in Berto Acquisition during the 1st quarter worth $1,697,000. Finally, Periscope Capital Inc. raised its holdings in Berto Acquisition by 8.7% in the 4th quarter. Periscope Capital Inc. now owns 195,000 shares of the restaurant operator's stock valued at $1,977,000 after acquiring an additional 15,600 shares in the last 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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