Blue Moon Metals (NASDAQ:BMM) Trading Up 11.1% – What’s Next?

Blue Moon Metals Inc. (NASDAQ:BMM) shares traded up 11.1% on Friday . The stock traded as high as $5.74 and last traded at $5.51. Approximately 554,260 shares were traded during mid-day trading, an increase of 336% from the average session volume of 127,163 shares. The stock had previously closed at $4.96.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Maxim Group started coverage on Blue Moon Metals in a research report on Friday, June 12th. They set a “buy” rating and a $15.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Blue Moon Metals in a research note on Tuesday, June 16th. Finally, Wall Street Zen upgraded Blue Moon Metals from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.00.

Blue Moon Metals Stock Up 11.1%

The firm has a 50 day moving average price of $5.83.

Institutional Trading of Blue Moon Metals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Periscope Capital Inc. acquired a new stake in Blue Moon Metals during the second quarter worth about $63,432,000. DLD Asset Management LP acquired a new stake in Blue Moon Metals in the second quarter worth $639,000. FirstWave Capital Management LLC acquired a new stake in Blue Moon Metals in the second quarter worth $1,077,000. Bank of America Corp DE lifted its stake in Blue Moon Metals by 2,095.4% in the second quarter. Bank of America Corp DE now owns 454,497 shares of the company’s stock valued at $2,904,000 after buying an additional 433,795 shares during the last quarter. Finally, Moore Capital Management LP bought a new stake in Blue Moon Metals in the second quarter valued at $3,052,000.