Blue Acquisition Corp/Cayman (NASDAQ:BACC) Short Interest Update

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the recipient of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 13,039 shares, a growth of 203.9% from the May 31st total of 4,291 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 93,486 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Blue Acquisition Corp/Cayman

A number of institutional investors and hedge funds have recently bought and sold shares of BACC. HRT Financial LP purchased a new position in Blue Acquisition Corp/Cayman in the fourth quarter worth about $318,000. MYDA Advisors LLC purchased a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter valued at approximately $756,000. Verition Fund Management LLC increased its position in shares of Blue Acquisition Corp/Cayman by 36.4% during the fourth quarter. Verition Fund Management LLC now owns 375,000 shares of the company’s stock valued at $3,829,000 after acquiring an additional 100,000 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Blue Acquisition Corp/Cayman in the 4th quarter worth approximately $7,147,000. Finally, Radcliffe Capital Management L.P. raised its holdings in Blue Acquisition Corp/Cayman by 9.4% in the 4th quarter. Radcliffe Capital Management L.P. now owns 524,100 shares of the company’s stock worth $5,351,000 after acquiring an additional 44,880 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Blue Acquisition Corp/Cayman Stock Performance

BACC stock remained flat at $10.40 on Friday. The company had a trading volume of 30,361 shares, compared to its average volume of 70,439. The stock’s 50 day moving average price is $10.38. Blue Acquisition Corp/Cayman has a one year low of $9.95 and a one year high of $10.50.

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

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.