Short Interest in Berto Acquisition Corp. (NASDAQ:TACO) Rises By 76.2%

Berto Acquisition Corp. (NASDAQ:TACO) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 25,746 shares, an increase of 76.2% from the August 15th total of 14,610 shares. Based on an average daily volume of 24,596 shares, the short-interest ratio is currently 1.0 days. Currently, 0.1% of the company’s shares are short sold.

Berto Acquisition Stock Performance

TACO opened at $10.45 on Friday. Berto Acquisition has a 52 week low of $10.11 and a 52 week high of $10.65. The business has a fifty day simple moving average of $10.47 and a 200-day simple moving average of $10.39.

Berto Acquisition (NASDAQ:TACO) last announced its quarterly earnings data on Friday, August 14th. The restaurant operator reported $0.03 earnings per share for the quarter.

Analyst Ratings Changes

A number of analysts recently issued reports on TACO shares. Wall Street Zen downgraded Berto Acquisition from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Weiss Ratings raised shares of Berto Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TACO. Levin Capital Strategies L.P. purchased a new position in shares of Berto Acquisition in the 1st quarter worth $102,000. Cannon Global Investment Management LLC grew its stake in Berto Acquisition by 12.7% during the 1st quarter. Cannon Global Investment Management LLC now owns 41,700 shares of the restaurant operator’s stock valued at $427,000 after purchasing an additional 4,700 shares in the last quarter. Jefferies Financial Group Inc. raised its position in shares of Berto Acquisition by 591.4% in the 4th quarter. Jefferies Financial Group Inc. now owns 130,774 shares of the restaurant operator’s stock valued at $1,326,000 after purchasing an additional 111,860 shares in the last quarter. Sona Asset Management US LLC acquired a new stake in Berto Acquisition in the first quarter valued at $1,697,000. Finally, Periscope Capital Inc. lifted its position in shares of Berto Acquisition by 8.7% during the fourth quarter. Periscope Capital Inc. now owns 195,000 shares of the restaurant operator’s stock worth $1,977,000 after purchasing an additional 15,600 shares during the last quarter.

Berto Acquisition Company Profile

Berto Acquisition Corp. (NASDAQ:TACO) is a special purpose acquisition company, or SPAC. Unlike an operating company, it was formed to raise capital through a public offering and use the proceeds to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more private companies.

Because Berto Acquisition Corp. is a blank-check company, it does not have an established portfolio of products or services, operating divisions, or a defined customer base.