Blue Acquisition Corp/Cayman (NASDAQ:BACC) Stock Rating Upgraded by Wall Street Zen

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a report released on Saturday.

A number of other research analysts have also weighed in on the stock. Weiss Ratings raised shares of Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. Odeon Capital Group upgraded shares of Blue Acquisition Corp/Cayman to a “strong-buy” rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Blue Acquisition Corp/Cayman currently has a consensus rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Stock Performance

Shares of NASDAQ:BACC opened at $10.46 on Friday. Blue Acquisition Corp/Cayman has a twelve month low of $9.95 and a twelve month high of $11.10. The stock’s 50 day moving average price is $10.54.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank grew its holdings in Blue Acquisition Corp/Cayman by 2.1% during the fourth quarter. Toronto Dominion Bank now owns 300,500 shares of the company’s stock worth $3,068,000 after buying an additional 6,100 shares in the last quarter. Meteora Capital LLC purchased a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter worth $136,000. Stoic Point Capital Management LLC bought a new position in shares of Blue Acquisition Corp/Cayman in the fourth quarter worth $255,000. HRT Financial LP purchased a new position in shares of Blue Acquisition Corp/Cayman in the fourth quarter valued at $318,000. Finally, Heights Capital Management Inc. purchased a new position in shares of Blue Acquisition Corp/Cayman in the fourth quarter valued at $342,000.

About Blue Acquisition Corp/Cayman

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.