Berto Acquisition (NASDAQ:TACO) Stock Passes Above Fifty Day Moving Average – Here’s Why

Berto Acquisition Corp. (NASDAQ:TACO)’s share price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $10.46 and traded as high as $10.48. Berto Acquisition shares last traded at $10.46, with a volume of 35,954 shares.

Analyst Ratings Changes

Several analysts recently weighed in on TACO shares. Wall Street Zen downgraded Berto Acquisition from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Berto Acquisition in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Berto Acquisition Trading Down 0.1%

The firm’s fifty day moving average price is $10.46 and its 200-day moving average price is $10.35.

Berto Acquisition (NASDAQ:TACO) last released its earnings results on Friday, August 14th. The restaurant operator reported $0.03 earnings per share for the quarter.

Institutional Trading of Berto Acquisition

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC acquired a new stake in Berto Acquisition during the second quarter worth $792,000. JPMorgan Chase & Co. acquired a new stake in shares of Berto Acquisition during the 2nd quarter valued at about $1,162,000. Shaolin Capital Management LLC bought a new stake in Berto Acquisition in the second quarter valued at about $1,303,000. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new stake in Berto Acquisition in the second quarter valued at about $8,336,000. Finally, Jane Street Group LLC acquired a new position in Berto Acquisition in the second quarter worth about $191,000.

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.