Short Interest in Blue Acquisition Corp/Cayman (NASDAQ:BACC) Rises By 203.9%

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 13,039 shares, a growth of 203.9% from the May 31st total of 4,291 shares. Based on an average daily volume of 93,486 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings raised Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Trading of Blue Acquisition Corp/Cayman

A number of hedge funds have recently bought and sold shares of BACC. Toronto Dominion Bank raised its holdings in Blue Acquisition Corp/Cayman by 2.1% in the 4th quarter. Toronto Dominion Bank now owns 300,500 shares of the company’s stock valued at $3,068,000 after acquiring an additional 6,100 shares during the last quarter. Meteora Capital LLC purchased a new stake in shares of Blue Acquisition Corp/Cayman in the fourth quarter valued at $136,000. Stoic Point Capital Management LLC purchased a new stake in shares of Blue Acquisition Corp/Cayman in the fourth quarter valued at $255,000. HRT Financial LP acquired a new position in Blue Acquisition Corp/Cayman in the fourth quarter valued at $318,000. Finally, Heights Capital Management Inc. purchased a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth about $342,000.

Blue Acquisition Corp/Cayman Trading Up 0.1%

NASDAQ BACC traded up $0.01 during trading hours on Monday, reaching $10.41. The company’s stock had a trading volume of 30,361 shares, compared to its average volume of 71,149. Blue Acquisition Corp/Cayman has a fifty-two week low of $9.95 and a fifty-two week high of $10.50. The business’s 50-day moving average price is $10.38.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.07 earnings per share (EPS) for the quarter.

Blue Acquisition Corp/Cayman Company Profile

Blue Acquisition Corp/Cayman (NASDAQ: BACC) is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company. As a blank-check vehicle, its primary business activity is to raise capital through its public listing and use those proceeds to identify, negotiate and complete a merger, acquisition, share exchange, asset acquisition, reorganization or similar business combination with one or more operating businesses.

Like other SPACs, Blue Acquisition typically holds the funds raised in trust pending the completion of a qualifying business combination and provides public investors with the opportunity to vote on proposed transactions and to seek redemption of their shares in accordance with the company’s governing documents.