Berto Acquisition Corp. (NASDAQ:TACO) Sees Large Decline in Short Interest

Berto Acquisition Corp. (NASDAQ:TACO) was the recipient of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 6,167 shares, a decline of 74.6% from the July 15th total of 24,292 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 33,397 shares, the short-interest ratio is currently 0.2 days.

Berto Acquisition Stock Up 0.0%

NASDAQ TACO traded up $0.01 on Thursday, reaching $10.46. The stock had a trading volume of 10,691 shares, compared to its average volume of 93,162. Berto Acquisition has a 12-month low of $10.11 and a 12-month high of $10.65. The stock has a fifty day moving average price of $10.45 and a two-hundred day moving average price of $10.34.

Berto Acquisition (NASDAQ:TACO) last released its quarterly earnings results on Tuesday, March 31st. The restaurant operator reported $0.15 EPS for the quarter.

Hedge Funds Weigh In On Berto Acquisition

A number of hedge funds and other institutional investors have recently bought and sold shares of TACO. Sona Asset Management US LLC acquired a new position in Berto Acquisition in the 1st quarter valued at about $1,697,000. Berkley W R Corp lifted its position in shares of Berto Acquisition by 77.9% during the first quarter. Berkley W R Corp now owns 1,822,598 shares of the restaurant operator’s stock worth $18,682,000 after purchasing an additional 797,864 shares in the last quarter. Levin Capital Strategies L.P. purchased a new position in shares of Berto Acquisition in the first quarter valued at approximately $102,000. Cannon Global Investment Management LLC boosted its stake in shares of Berto Acquisition by 12.7% in the first quarter. Cannon Global Investment Management LLC now owns 41,700 shares of the restaurant operator’s stock valued at $427,000 after purchasing an additional 4,700 shares during the period. Finally, Lineage Point Capital LP acquired a new position in shares of Berto Acquisition in the fourth quarter valued at approximately $4,862,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Berto Acquisition in a research note on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Berto Acquisition currently has an average rating of “Sell”.

Berto Acquisition Company Profile

Del Taco Restaurants, Inc develops, franchises, owns, and operates Del Taco quick-service Mexican-American restaurants in the United States. The company's restaurants offer Mexican inspired and American classic dishes. As of August 31, 2021, it operated approximately 600 restaurants across 16 states. The company was founded in 1964 and is headquartered in Lake Forest, California.