Periscope Capital Inc. Has $2.55 Million Position in Blue Acquisition Corp/Cayman $BACC

Periscope Capital Inc. lowered its position in shares of Blue Acquisition Corp/Cayman (NASDAQ:BACC) by 28.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 250,000 shares of the company’s stock after selling 100,000 shares during the quarter. Periscope Capital Inc.’s holdings in Blue Acquisition Corp/Cayman were worth $2,552,000 as of its most recent SEC filing.

Blue Acquisition Corp/Cayman Stock Performance

Shares of BACC opened at $10.41 on Friday. Blue Acquisition Corp/Cayman has a twelve month low of $9.95 and a twelve month high of $10.50. The firm has a 50 day moving average of $10.30.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.07 earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Blue Acquisition Corp/Cayman currently has an average rating of “Sell”.

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.