Bluemount Holdings Limited (NASDAQ:BMHL) Sees Significant Decrease in Short Interest

Bluemount Holdings Limited (NASDAQ:BMHL) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 6,463 shares, a decrease of 36.4% from the June 15th total of 10,169 shares. Based on an average daily volume of 5,650 shares, the short-interest ratio is presently 1.1 days. Currently, 0.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Bluemount

A hedge fund recently bought a new stake in Bluemount stock. Citadel Advisors LLC purchased a new position in Bluemount Holdings Limited (NASDAQ:BMHL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 58,467 shares of the company’s stock, valued at approximately $202,000. Citadel Advisors LLC owned 0.23% of Bluemount at the end of the most recent quarter.

Bluemount Trading Down 1.2%

Shares of NASDAQ BMHL traded down $0.07 during trading hours on Friday, hitting $5.69. 1,025 shares of the stock were exchanged, compared to its average volume of 1,845. Bluemount has a 12 month low of $2.72 and a 12 month high of $6.35. The firm has a fifty day moving average price of $5.14 and a 200-day moving average price of $4.13.

Bluemount (NASDAQ:BMHL) last announced its quarterly earnings data on Monday, June 29th. The company reported ($0.02) earnings per share for the quarter. The firm had revenue of $1.76 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Bluemount in a research note on Tuesday, June 30th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Bluemount Company Profile

Bluemount, Inc is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company and listed on the Nasdaq Stock Market under the ticker symbol BMHL. As a blank check company, Bluemount has no ongoing commercial operations and was formed to raise capital through an initial public offering for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination.

Following its public listing, Bluemount holds its proceeds in a trust account until it identifies and completes a business combination with one or more target companies.