Berto Acquisition Corp. (NASDAQ:TACO) Sees Significant Decrease in Short Interest

Berto Acquisition Corp. (NASDAQ:TACO) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 5,689 shares, a decline of 77.9% from the August 31st total of 25,746 shares. Based on an average trading volume of 39,690 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Berto Acquisition

Hedge funds have recently made changes to their positions in the company. Levin Capital Strategies L.P. purchased a new stake in shares of Berto Acquisition in the 1st quarter valued at about $102,000. Cannon Global Investment Management LLC increased 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 during the period. Jefferies Financial Group Inc. lifted its stake in Berto Acquisition by 591.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 130,774 shares of the restaurant operator’s stock valued at $1,326,000 after buying an additional 111,860 shares during the last quarter. Sona Asset Management US LLC purchased a new stake in Berto Acquisition in the first quarter valued at approximately $1,697,000. Finally, Periscope Capital Inc. boosted its holdings in shares of Berto Acquisition by 8.7% in the fourth 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 during the period.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TACO. 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 lowered Berto Acquisition from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Berto Acquisition Price Performance

TACO remained flat at $10.45 on Friday. The company had a trading volume of 17,466 shares, compared to its average volume of 41,960. The business has a fifty day simple moving average of $10.47 and a 200 day simple moving average of $10.40. Berto Acquisition has a 52-week low of $10.11 and a 52-week high of $10.65.

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