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

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totaling 5,073 shares, a growth of 215.1% from the April 15th total of 1,610 shares. Based on an average daily volume of 24,103 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company’s stock are sold short.

Institutional Trading of Blue Acquisition Corp/Cayman

A number of large investors have recently made changes to their positions in BACC. Sona Asset Management US LLC acquired a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at about $20,013,000. Alberta Investment Management Corp acquired a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at about $7,147,000. Lineage Point Capital LP acquired a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at about $4,404,000. Readystate Asset Management LP acquired a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at about $1,532,000. Finally, Berkley W R Corp boosted its position in shares of Blue Acquisition Corp/Cayman by 40.6% in 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.

Blue Acquisition Corp/Cayman Stock Performance

Shares of NASDAQ:BACC traded up $0.08 on Friday, hitting $10.43. 101,111 shares of the company’s stock were exchanged, compared to its average volume of 51,129. The stock’s 50-day moving average is $10.25. Blue Acquisition Corp/Cayman has a 1-year low of $9.95 and a 1-year high of $10.50.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last released its quarterly earnings data on Monday, May 11th. The company reported $0.07 earnings per share (EPS) for the quarter.

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 research report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Blue Acquisition Corp/Cayman has a consensus rating of “Sell”.

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.