Governors Lane LP Has $3.06 Million Position in Blue Acquisition Corp/Cayman $BACC

Governors Lane LP boosted its holdings in Blue Acquisition Corp/Cayman (NASDAQ:BACC) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 300,000 shares of the company’s stock after acquiring an additional 100,000 shares during the quarter. Governors Lane LP’s holdings in Blue Acquisition Corp/Cayman were worth $3,063,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BACC. Meteora Capital LLC acquired a new stake in Blue Acquisition Corp/Cayman in the 4th quarter valued at $136,000. HRT Financial LP acquired a new stake in Blue Acquisition Corp/Cayman in the 4th quarter valued at $318,000. Heights Capital Management Inc. acquired a new stake in Blue Acquisition Corp/Cayman in the 4th quarter valued at $342,000. Boothbay Fund Management LLC acquired a new stake in Blue Acquisition Corp/Cayman in the 4th quarter valued at $464,000. Finally, MYDA Advisors LLC acquired a new stake in Blue Acquisition Corp/Cayman in the 4th quarter valued at $756,000.

Blue Acquisition Corp/Cayman Trading Down 0.2%

BACC opened at $10.45 on Thursday. The business’s fifty day moving average price is $10.36. Blue Acquisition Corp/Cayman has a 1 year low of $9.95 and a 1 year high of $10.50.

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

Analyst Upgrades and Downgrades

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

Blue Acquisition Corp/Cayman 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.