Blue Acquisition Corp/Cayman (NASDAQ:BACC) Issues Earnings Results

Blue Acquisition Corp/Cayman (NASDAQ:BACC) issued its earnings results on Monday. The company reported $0.07 earnings per share (EPS) for the quarter, FiscalAI reports.

Blue Acquisition Corp/Cayman Stock Up 0.4%

BACC traded up $0.04 during midday trading on Wednesday, reaching $10.43. The company had a trading volume of 11,525 shares, compared to its average volume of 44,182. The company’s 50-day moving average price is $10.24. Blue Acquisition Corp/Cayman has a 1 year low of $9.95 and a 1 year high of $10.50.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Blue Acquisition Corp/Cayman currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BACC. Meteora Capital LLC bought a new position in Blue Acquisition Corp/Cayman in the 4th quarter worth approximately $136,000. Stoic Point Capital Management LLC bought a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter worth about $255,000. HRT Financial LP purchased a new stake in Blue Acquisition Corp/Cayman during 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 worth $342,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter worth about $464,000.

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.