UY Scuti Acquisition (NASDAQ:UYSC) Announces Quarterly Earnings Results

UY Scuti Acquisition (NASDAQ:UYSC) posted its quarterly earnings data on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, FiscalAI reports.

UY Scuti Acquisition Stock Up 0.3%

UYSC opened at $10.74 on Thursday. The firm’s fifty day moving average price is $10.69 and its 200 day moving average price is $10.48. UY Scuti Acquisition has a 12-month low of $10.04 and a 12-month high of $11.75.

Institutional Investors Weigh In On UY Scuti Acquisition

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wolverine Asset Management LLC lifted its position in shares of UY Scuti Acquisition by 8.6% during the fourth quarter. Wolverine Asset Management LLC now owns 502,944 shares of the company’s stock worth $5,155,000 after purchasing an additional 39,866 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in UY Scuti Acquisition in the second quarter valued at about $4,522,000. Berkley W R Corp raised its stake in UY Scuti Acquisition by 14.3% during the first quarter. Berkley W R Corp now owns 407,586 shares of the company’s stock valued at $4,231,000 after buying an additional 50,944 shares in the last quarter. Karpus Management Inc. bought a new position in UY Scuti Acquisition during the 2nd quarter worth approximately $2,980,000. Finally, Shaolin Capital Management LLC bought a new position in UY Scuti Acquisition during the 2nd quarter worth approximately $2,810,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of UY Scuti Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

About UY Scuti Acquisition

UY Scuti Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. It completed its initial public offering on the Nasdaq under the ticker symbol UYSC, raising capital through the sale of units composed of common stock and warrants. As a blank check company, UY Scuti Acquisition holds the IPO proceeds in a trust account while it seeks a suitable business combination.

The firm’s principal objective is to effect a merger, capital stock exchange, asset acquisition or similar business combination with one or more businesses.