Berto Acquisition Corp. (NASDAQ:TACO) Sees Significant Growth in Short Interest

Berto Acquisition Corp. (NASDAQ:TACO) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 24,292 shares, a growth of 159.6% from the June 30th total of 9,356 shares. Based on an average trading volume of 136,365 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Berto Acquisition Price Performance

NASDAQ TACO traded down $0.02 during trading on Wednesday, reaching $10.46. The company’s stock had a trading volume of 190 shares, compared to its average volume of 96,548. The firm has a fifty day moving average of $10.46 and a 200 day moving average of $10.31. Berto Acquisition has a one year low of $10.11 and a one year high of $10.65.

Berto Acquisition (NASDAQ:TACO) last posted its quarterly earnings data on Tuesday, March 31st. The restaurant operator reported $0.15 earnings per share for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Lineage Point Capital LP purchased a new position in shares of Berto Acquisition in the 4th quarter worth about $4,862,000. Sona Asset Management US LLC purchased a new position in shares of Berto Acquisition during the first quarter worth approximately $1,697,000. Berkley W R Corp lifted its holdings in shares of Berto Acquisition by 77.9% in the 1st quarter. Berkley W R Corp now owns 1,822,598 shares of the restaurant operator’s stock worth $18,682,000 after acquiring an additional 797,864 shares during the last quarter. K2 Principal Fund L.P. boosted its stake in shares of Berto Acquisition by 39.2% in the 4th quarter. K2 Principal Fund L.P. now owns 355,204 shares of the restaurant operator’s stock valued at $3,602,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Mercuria Capital Strategies LLC purchased a new position in Berto Acquisition in the 4th quarter worth $2,747,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Berto Acquisition in a research note on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Berto Acquisition Company Profile

Del Taco Restaurants, Inc develops, franchises, owns, and operates Del Taco quick-service Mexican-American restaurants in the United States. The company's restaurants offer Mexican inspired and American classic dishes. As of August 31, 2021, it operated approximately 600 restaurants across 16 states. The company was founded in 1964 and is headquartered in Lake Forest, California.