Moore Capital Management LP Takes $3.05 Million Position in Blue Moon Metals Inc. $BMM

Moore Capital Management LP bought a new position in shares of Blue Moon Metals Inc. (NASDAQ:BMM) during the second quarter, Holdings Channel reports. The fund bought 480,000 shares of the company’s stock, valued at approximately $3,052,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. PenderFund Capital Management Ltd. grew its position in shares of Blue Moon Metals by 108.0% in the 2nd quarter. PenderFund Capital Management Ltd. now owns 1,176,098 shares of the company’s stock valued at $7,463,000 after buying an additional 610,800 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Blue Moon Metals by 2,095.4% in the second quarter. Bank of America Corp DE now owns 454,497 shares of the company’s stock worth $2,904,000 after acquiring an additional 433,795 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Blue Moon Metals by 1,314.3% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,875,569 shares of the company’s stock worth $24,569,000 after acquiring an additional 3,601,539 shares during the period. DLD Asset Management LP bought a new stake in Blue Moon Metals in the second quarter valued at approximately $639,000. Finally, Periscope Capital Inc. bought a new stake in Blue Moon Metals in the second quarter valued at approximately $63,432.

Blue Moon Metals Stock Up 7.8%

BMM opened at $6.06 on Tuesday. The firm has a fifty day moving average of $5.69. Blue Moon Metals Inc. has a 1-year low of $2.20 and a 1-year high of $8.63.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BMM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Blue Moon Metals in a research report on Tuesday, June 16th. Wall Street Zen raised shares of Blue Moon Metals from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Maxim Group started coverage on Blue Moon Metals in a report on Friday, June 12th. They set a “buy” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Blue Moon Metals currently has an average rating of “Hold” and a consensus price target of $15.00.