Blue Acquisition Corp/Cayman (NASDAQ:BACC) Short Interest Down 57.4% in July

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 10,723 shares, a decrease of 57.4% from the July 15th total of 25,162 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 63,701 shares, the short-interest ratio is currently 0.2 days.

Analysts Set New Price Targets

A number of equities analysts have commented on BACC shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blue Acquisition Corp/Cayman in a report on Wednesday, July 29th. Wall Street Zen upgraded Blue Acquisition Corp/Cayman to a “hold” rating in a research report on Saturday, July 25th. Finally, Odeon Capital Group raised Blue Acquisition Corp/Cayman to a “strong-buy” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Trading Down 0.3%

Blue Acquisition Corp/Cayman stock traded down $0.03 during midday trading on Monday, reaching $10.50. 328 shares of the stock traded hands, compared to its average volume of 36,110. Blue Acquisition Corp/Cayman has a fifty-two week low of $9.95 and a fifty-two week high of $11.10. The firm has a fifty day moving average price of $10.56 and a two-hundred day moving average price of $10.37.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. HRT Financial LP bought a new stake in shares of Blue Acquisition Corp/Cayman during the 4th quarter worth about $318,000. MYDA Advisors LLC bought a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter worth $756,000. Verition Fund Management LLC lifted its holdings in shares of Blue Acquisition Corp/Cayman by 36.4% in the fourth quarter. Verition Fund Management LLC now owns 375,000 shares of the company’s stock valued at $3,829,000 after buying an additional 100,000 shares during the period. Alberta Investment Management Corp bought a new stake in Blue Acquisition Corp/Cayman in the fourth quarter worth about $7,147,000. Finally, Radcliffe Capital Management L.P. raised its position in Blue Acquisition Corp/Cayman by 9.4% in the fourth quarter. Radcliffe Capital Management L.P. now owns 524,100 shares of the company’s stock worth $5,351,000 after acquiring an additional 44,880 shares in the last 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.