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

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 1,836 shares, a decline of 76.6% from the September 15th total of 7,860 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 202,366 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Harraden Circle Investments LLC acquired a new position in Blue Acquisition Corp/Cayman in the 2nd quarter worth approximately $11,286,000. Sona Asset Management US LLC grew its position in Blue Acquisition Corp/Cayman by 70.5% during the 1st quarter. Sona Asset Management US LLC now owns 3,342,359 shares of the company’s stock worth $34,125,000 after purchasing an additional 1,382,174 shares in the last quarter. Berkley W R Corp raised its stake in Blue Acquisition Corp/Cayman by 40.6% during the 1st quarter. Berkley W R Corp now owns 441,650 shares of the company’s stock valued at $4,509,000 after purchasing an additional 127,428 shares during the period. Lineage Point Capital LP acquired a new stake in Blue Acquisition Corp/Cayman during the 4th quarter valued at $4,404,000. Finally, Governors Lane LP raised its stake in Blue Acquisition Corp/Cayman by 50.0% during the 4th quarter. Governors Lane LP now owns 300,000 shares of the company’s stock valued at $3,063,000 after purchasing an additional 100,000 shares during the period.

Analyst Ratings Changes

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

Blue Acquisition Corp/Cayman Trading Down 0.0%

Shares of NASDAQ BACC traded down $0.01 during mid-day trading on Tuesday, hitting $10.44. 6,014 shares of the company traded hands, compared to its average volume of 114,142. Blue Acquisition Corp/Cayman has a 1 year low of $10.00 and a 1 year high of $11.10. The business has a 50 day moving average of $10.50 and a two-hundred day moving average of $10.46.

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

About Blue Acquisition Corp/Cayman

Blue Acquisition Corp. is a Cayman Islands-incorporated special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol BACC. Unlike an operating company, it was formed to raise capital through a public offering and pursue a business combination with an existing private company.

The company’s proposed transaction could take the form of a merger, share exchange, asset acquisition, reorganization or similar combination. Until a transaction is completed, Blue Acquisition Corp.