Blue Acquisition Corp/Cayman $BACC Shares Purchased by Sona Asset Management US LLC

Sona Asset Management US LLC raised its position in shares of Blue Acquisition Corp/Cayman (NASDAQ:BACC) by 70.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,342,359 shares of the company’s stock after acquiring an additional 1,382,174 shares during the period. Blue Acquisition Corp/Cayman makes up 0.7% of Sona Asset Management US LLC’s portfolio, making the stock its 23rd biggest position. Sona Asset Management US LLC owned about 0.12% of Blue Acquisition Corp/Cayman worth $34,125,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its stake in Blue Acquisition Corp/Cayman by 2.1% during the fourth quarter. Toronto Dominion Bank now owns 300,500 shares of the company’s stock worth $3,068,000 after acquiring an additional 6,100 shares during the last quarter. Meteora Capital LLC acquired a new position in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at about $136,000. Stoic Point Capital Management LLC acquired a new position in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at about $255,000. HRT Financial LP purchased a new stake in shares of Blue Acquisition Corp/Cayman during the 4th quarter worth about $318,000. Finally, Heights Capital Management Inc. purchased a new stake in shares of Blue Acquisition Corp/Cayman during the 4th quarter worth about $342,000.

Analysts Set New Price Targets

Several research firms recently commented on BACC. Wall Street Zen upgraded shares of Blue Acquisition Corp/Cayman to a “hold” rating in a report on Saturday. Weiss Ratings upgraded shares of Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. Finally, Odeon Capital Group raised shares of Blue Acquisition Corp/Cayman to a “strong-buy” rating in a research report on Wednesday, July 8th. One 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, the stock currently has a consensus rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Stock Performance

Shares of BACC opened at $10.46 on Monday. The stock’s 50-day moving average is $10.54. Blue Acquisition Corp/Cayman has a 12 month low of $9.95 and a 12 month high of $11.10.

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

Blue Acquisition Corp/Cayman Profile

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.