Blue Acquisition Corp/Cayman (NASDAQ:BACC) Stock Short Interest Drops 76.6%

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 1,836 shares, a decline of 76.6% from the September 15th total of 7,860 shares. Based on an average daily volume of 202,366 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sona Asset Management US LLC boosted its stake in Blue Acquisition Corp/Cayman by 70.5% during the 1st quarter. Sona Asset Management US LLC now owns 3,342,359 shares of the company’s stock worth $34,125,000 after acquiring an additional 1,382,174 shares during the last quarter. Harraden Circle Investments LLC bought a new position in shares of Blue Acquisition Corp/Cayman during the second quarter worth $11,286,000. Alberta Investment Management Corp bought a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at $7,147,000. Radcliffe Capital Management L.P. increased its position in shares of Blue Acquisition Corp/Cayman by 9.4% in the 4th quarter. Radcliffe Capital Management L.P. now owns 524,100 shares of the company’s stock valued at $5,351,000 after buying an additional 44,880 shares in the last quarter. Finally, Berkley W R Corp increased its position in shares of Blue Acquisition Corp/Cayman by 40.6% in the 1st quarter. Berkley W R Corp now owns 441,650 shares of the company’s stock valued at $4,509,000 after buying an additional 127,428 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BACC shares. Weiss Ratings upgraded Blue Acquisition Corp/Cayman from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. Odeon Capital Group raised Blue Acquisition Corp/Cayman to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen upgraded Blue Acquisition Corp/Cayman to a “hold” rating in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Trading Down 0.0%

Shares of BACC traded down $0.01 on Monday, reaching $10.44. 771,235 shares of the company’s stock were exchanged, compared to its average volume of 191,642. The business has a 50 day moving average price of $10.50 and a two-hundred day moving average price of $10.46. Blue Acquisition Corp/Cayman has a 12 month low of $10.00 and a 12 month high of $11.10.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.06 earnings per share (EPS) for the quarter.

Blue Acquisition Corp/Cayman Company Profile

Blue Acquisition Corp. is a Cayman Islands-incorporated special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol BACC. Unlike an operating company, it was formed to raise capital through a public offering and pursue a business combination with an existing private company.

The company’s proposed transaction could take the form of a merger, share exchange, asset acquisition, reorganization or similar combination. Until a transaction is completed, Blue Acquisition Corp.