Black Hawk Acquisition Corporation (NASDAQ:BKHA) Sees Large Decline in Short Interest

Black Hawk Acquisition Corporation (NASDAQ:BKHA) was the target of a large drop in short interest in July. As of July 15th, there was short interest totaling 49 shares, a drop of 32.9% from the June 30th total of 73 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 694 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Black Hawk Acquisition

Institutional investors and hedge funds have recently modified their holdings of the company. Meteora Capital LLC bought a new stake in shares of Black Hawk Acquisition during the 3rd quarter worth $1,111,000. Clear Street Group Inc. raised its holdings in Black Hawk Acquisition by 11.6% in the 4th quarter. Clear Street Group Inc. now owns 59,031 shares of the company’s stock worth $664,000 after acquiring an additional 6,158 shares during the period. Finally, Quarry LP bought a new position in Black Hawk Acquisition in the 3rd quarter worth $112,000.

Black Hawk Acquisition Price Performance

Shares of NASDAQ BKHA opened at $11.88 on Friday. The business’s 50-day simple moving average is $12.23 and its 200-day simple moving average is $11.87. Black Hawk Acquisition has a 52 week low of $10.93 and a 52 week high of $13.10.

Black Hawk Acquisition (NASDAQ:BKHA) last posted its earnings results on Wednesday, July 15th. The company reported $0.02 earnings per share for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Black Hawk Acquisition in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

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.