Berto Acquisition Corp. (NASDAQ:TACO) Sees Significant Increase in Short Interest

Berto Acquisition Corp. (NASDAQ:TACO) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 24,292 shares, a growth of 159.6% from the June 30th total of 9,356 shares. Based on an average trading volume of 136,365 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TACO. Lineage Point Capital LP purchased a new stake in shares of Berto Acquisition in the fourth quarter valued at approximately $4,862,000. Sona Asset Management US LLC acquired a new stake in shares of Berto Acquisition in the first quarter valued at approximately $1,697,000. Mercuria Capital Strategies LLC purchased a new position in Berto Acquisition during the fourth quarter worth approximately $2,747,000. K2 Principal Fund L.P. lifted its position in Berto Acquisition by 39.2% during the fourth quarter. K2 Principal Fund L.P. now owns 355,204 shares of the restaurant operator’s stock worth $3,602,000 after buying an additional 100,000 shares in the last quarter. Finally, Berkley W R Corp boosted its stake in Berto Acquisition by 77.9% during the first quarter. Berkley W R Corp now owns 1,822,598 shares of the restaurant operator’s stock worth $18,682,000 after buying an additional 797,864 shares during the last quarter.

Berto Acquisition Price Performance

Shares of Berto Acquisition stock remained flat at $10.48 during trading hours on Monday. 28,613 shares of the stock were exchanged, compared to its average volume of 97,809. Berto Acquisition has a fifty-two week low of $10.11 and a fifty-two week high of $10.65. The firm has a 50-day moving average price of $10.46 and a two-hundred day moving average price of $10.31.

Berto Acquisition (NASDAQ:TACO) last posted its quarterly earnings results on Tuesday, March 31st. The restaurant operator reported $0.15 earnings per share for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Berto Acquisition in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

About Berto Acquisition

Del Taco Restaurants, Inc develops, franchises, owns, and operates Del Taco quick-service Mexican-American restaurants in the United States. The company's restaurants offer Mexican inspired and American classic dishes. As of August 31, 2021, it operated approximately 600 restaurants across 16 states. The company was founded in 1964 and is headquartered in Lake Forest, California.