Black Hawk Acquisition Corporation (NASDAQ:BKHA) Sees Significant Drop in Short Interest

Black Hawk Acquisition Corporation (NASDAQ:BKHA) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 54 shares, a decrease of 49.1% from the April 30th total of 106 shares. Based on an average daily volume of 607 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Black Hawk Acquisition Stock Up 0.3%

Shares of BKHA traded up $0.03 during midday trading on Monday, reaching $11.88. The company had a trading volume of 305 shares, compared to its average volume of 668. Black Hawk Acquisition has a 1-year low of $10.58 and a 1-year high of $11.98. The firm has a 50 day simple moving average of $11.71 and a 200-day simple moving average of $11.57.

Black Hawk Acquisition (NASDAQ:BKHA) last issued its earnings results on Monday, April 20th. The company reported $0.03 earnings per share (EPS) for the quarter.

Institutional Trading of Black Hawk Acquisition

A number of hedge funds and other institutional investors have recently modified their holdings of BKHA. Quarry LP acquired a new stake in shares of Black Hawk Acquisition in the 3rd quarter worth $112,000. Clear Street Group Inc. acquired a new stake in shares of Black Hawk Acquisition in the 3rd quarter worth $588,000. Crossingbridge Advisors LLC acquired a new stake in shares of Black Hawk Acquisition in the 3rd quarter worth $588,000. Finally, Meteora Capital LLC acquired a new stake in shares of Black Hawk Acquisition during the 3rd quarter worth about $1,111,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Black Hawk Acquisition in a research note on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

About Black Hawk Acquisition

Black Hawk Acquisition Corp. is a special purpose acquisition company (SPAC) formed to effect a merger, stock purchase, asset acquisition, stock exchange or similar business combination with one or more businesses. Incorporated in Delaware, the company was created to raise capital through an initial public offering and to seek a target business that can benefit from its public listing and access to growth capital.

Since its listing on the NASDAQ under the ticker BKHA, Black Hawk Acquisition has focused on identifying businesses in sectors such as technology, industrials, consumer and financial services.