Blue Acquisition Corp/Cayman (NASDAQ:BACC) Sees Significant Decline in Short Interest

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 40 shares, a drop of 97.8% from the September 30th total of 1,836 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 148,103 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wall Street Zen raised shares of Blue Acquisition Corp/Cayman to a “hold” rating in a report on Saturday, July 25th. Odeon Capital Group raised shares of Blue Acquisition Corp/Cayman to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings upgraded shares of Blue Acquisition Corp/Cayman from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Institutional Trading of Blue Acquisition Corp/Cayman

Institutional investors have recently bought and sold shares of the stock. Harraden Circle Investments LLC purchased a new position in Blue Acquisition Corp/Cayman during the second quarter worth $11,286,000. Sona Asset Management US LLC raised its stake in shares of 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 valued at $34,125,000 after acquiring an additional 1,382,174 shares during the period. Finally, Berkley W R Corp raised its stake 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 acquiring an additional 127,428 shares during the period.

Blue Acquisition Corp/Cayman Trading Down 0.0%

NASDAQ BACC traded down $0.01 during trading hours on Wednesday, hitting $10.46. 13,051 shares of the company were exchanged, compared to its average volume of 134,598. Blue Acquisition Corp/Cayman has a 52 week low of $10.04 and a 52 week high of $11.10. The stock has a 50-day moving average price of $10.49 and a 200 day moving average price of $10.40.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter.

About Blue Acquisition Corp/Cayman

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.