Bluemount (NASDAQ:BMHL) Stock Price Down 5.3% – Should You Sell?

Bluemount Holdings Limited (NASDAQ:BMHL)’s share price fell 5.3% during trading on Thursday . The stock traded as low as $3.43 and last traded at $3.55. 4,178 shares traded hands during mid-day trading, an increase of 18% from the average session volume of 3,540 shares. The stock had previously closed at $3.75.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Bluemount in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Bluemount currently has a consensus rating of “Sell”.

Bluemount Price Performance

The firm’s 50-day moving average price is $3.56.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Bluemount stock. Citadel Advisors LLC acquired a new position in Bluemount Holdings Limited (NASDAQ:BMHL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 58,467 shares of the company’s stock, valued at approximately $202,000. Citadel Advisors LLC owned approximately 0.23% of Bluemount as of its most recent filing with the Securities & Exchange Commission.

About Bluemount

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.