Black Hawk Acquisition Corporation (NASDAQ:BKHA) Sees Significant Drop in Short Interest

Black Hawk Acquisition Corporation (NASDAQ:BKHA) was the recipient of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 54 shares, a drop of 49.1% from the April 30th total of 106 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 607 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Black Hawk Acquisition

Several hedge funds have recently made changes to their positions in the business. Meteora Capital LLC acquired a new stake in shares of Black Hawk Acquisition during the third quarter worth about $1,111,000. Clear Street Group Inc. lifted its position in shares of Black Hawk Acquisition by 11.6% during the fourth quarter. Clear Street Group Inc. now owns 59,031 shares of the company’s stock worth $664,000 after purchasing an additional 6,158 shares in the last quarter. Crossingbridge Advisors LLC acquired a new stake in shares of Black Hawk Acquisition during the third quarter worth about $588,000. Finally, Quarry LP acquired a new stake in shares of Black Hawk Acquisition during the third quarter worth about $112,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Black Hawk Acquisition in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Black Hawk Acquisition Stock Performance

NASDAQ BKHA traded up $0.03 during trading on Monday, hitting $11.88. The stock had a trading volume of 305 shares, compared to its average volume of 668. The firm has a 50 day moving average price of $11.71 and a 200 day moving average price of $11.57. Black Hawk Acquisition has a twelve month low of $10.58 and a twelve month high of $11.98.

Black Hawk Acquisition (NASDAQ:BKHA) last issued its quarterly earnings results on Monday, April 20th. The company reported $0.03 earnings per share (EPS) for the quarter.

About Black Hawk Acquisition

Black Hawk Acquisition Corp. is a special purpose acquisition company (SPAC) formed to effect a merger, stock purchase, asset acquisition, stock exchange or similar business combination with one or more businesses. Incorporated in Delaware, the company was created to raise capital through an initial public offering and to seek a target business that can benefit from its public listing and access to growth capital.

Since its listing on the NASDAQ under the ticker BKHA, Black Hawk Acquisition has focused on identifying businesses in sectors such as technology, industrials, consumer and financial services.