Blue Acquisition Corp/Cayman (NASDAQ:BACC) Announces Earnings Results

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

Blue Acquisition Corp/Cayman Stock Down 0.2%

NASDAQ:BACC traded down $0.02 during trading hours on Monday, hitting $10.44. The stock had a trading volume of 20,632 shares, compared to its average volume of 58,081. Blue Acquisition Corp/Cayman has a 1-year low of $9.95 and a 1-year high of $10.50. The firm has a 50 day simple moving average of $10.22.

Hedge Funds Weigh In On Blue Acquisition Corp/Cayman

A number of hedge funds have recently bought and sold shares of BACC. Meteora Capital LLC bought a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth $136,000. Stoic Point Capital Management LLC bought a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth $255,000. HRT Financial LP bought a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth $318,000. Heights Capital Management Inc. bought a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth $342,000. Finally, Boothbay Fund Management LLC bought a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth $464,000.

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 research report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

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.