Berto Acquisition (NASDAQ:TACO) Shares Pass Above Fifty Day Moving Average – Time to Sell?

Shares of Berto Acquisition Corp. (NASDAQ:TACO) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $10.39 and traded as high as $10.53. Berto Acquisition shares last traded at $10.46, with a volume of 145,918 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Berto Acquisition in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Berto Acquisition Stock Performance

The stock’s fifty day moving average price is $10.39 and its two-hundred day moving average price is $10.26.

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

Institutional Trading of Berto Acquisition

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sona Asset Management US LLC bought a new stake in Berto Acquisition in the first quarter valued at $1,697,000. Berkley W R Corp raised its holdings in 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 purchasing an additional 797,864 shares in the last quarter. Levin Capital Strategies L.P. bought a new position in Berto Acquisition in the 1st quarter worth $102,000. Cannon Global Investment Management LLC lifted its position in shares of Berto Acquisition by 12.7% in the 1st quarter. Cannon Global Investment Management LLC now owns 41,700 shares of the restaurant operator’s stock worth $427,000 after purchasing an additional 4,700 shares during the period. Finally, Lineage Point Capital LP bought a new stake in shares of Berto Acquisition during the 4th quarter valued at about $4,862,000.

About Berto Acquisition

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.