Blue Water Acquisition Corp. III (NASDAQ:BLUW) Sees Significant Growth in Short Interest

Blue Water Acquisition Corp. III (NASDAQ:BLUW) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 1,275 shares, an increase of 169.6% from the April 30th total of 473 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 12,353 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BLUW. Clear Street Group Inc. bought a new position in Blue Water Acquisition Corp. III in the 3rd quarter valued at $5,764,000. Bulldog Investors LLP bought a new position in shares of Blue Water Acquisition Corp. III in the third quarter worth $414,000. Berkley W R Corp bought a new position in shares of Blue Water Acquisition Corp. III in the third quarter worth $9,262,000. Ghisallo Capital Management LLC purchased a new stake in shares of Blue Water Acquisition Corp. III in the third quarter worth $1,994,000. Finally, Mangrove Partners IM LLC purchased a new stake in shares of Blue Water Acquisition Corp. III in the third quarter worth $1,479,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on BLUW shares. Weiss Ratings upgraded shares of Blue Water Acquisition Corp. III from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, April 24th. Wall Street Zen raised Blue Water Acquisition Corp. III to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Blue Water Acquisition Corp. III currently has an average rating of “Sell”.

Blue Water Acquisition Corp. III Price Performance

NASDAQ:BLUW remained flat at $10.27 on Monday. 661 shares of the company’s stock were exchanged, compared to its average volume of 33,880. Blue Water Acquisition Corp. III has a 12-month low of $9.93 and a 12-month high of $10.41. The company has a 50 day moving average of $10.27 and a two-hundred day moving average of $10.28.

Blue Water Acquisition Corp. III (NASDAQ:BLUW) last posted its earnings results on Tuesday, April 14th. The company reported ($0.03) earnings per share (EPS) for the quarter.

About Blue Water Acquisition Corp. III

Blue Water Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Greenwich, Connecticut.