Blue Acquisition Corp/Cayman (NASDAQ:BACC) Short Interest Up 90.1% in June

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 24,785 shares, a growth of 90.1% from the June 15th total of 13,039 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 409,813 shares, the days-to-cover ratio is currently 0.1 days.

Blue Acquisition Corp/Cayman Trading Down 0.7%

BACC stock opened at $10.57 on Thursday. Blue Acquisition Corp/Cayman has a one year low of $9.95 and a one year high of $11.10. The business’s 50 day simple moving average is $10.53.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Odean Cap Resea upgraded shares of Blue Acquisition Corp/Cayman to a “strong-buy” rating in a research report on Wednesday, July 8th. Weiss Ratings raised Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Institutional Trading of Blue Acquisition Corp/Cayman

Several institutional investors have recently added to or reduced their stakes in the business. Sona Asset Management US LLC grew its stake in shares of Blue Acquisition Corp/Cayman by 70.5% during the first quarter. Sona Asset Management US LLC now owns 3,342,359 shares of the company’s stock valued at $34,125,000 after buying an additional 1,382,174 shares during the last quarter. Berkley W R Corp lifted its stake in shares of Blue Acquisition Corp/Cayman by 40.6% in the 1st quarter. Berkley W R Corp now owns 441,650 shares of the company’s stock valued at $4,509,000 after acquiring an additional 127,428 shares during the last quarter. Lineage Point Capital LP bought a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at about $4,404,000. Stoic Point Capital Management LLC purchased a new stake in Blue Acquisition Corp/Cayman during the 4th quarter valued at about $255,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. boosted its holdings in Blue Acquisition Corp/Cayman by 9.8% during the 4th quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 1,317,152 shares of the company’s stock valued at $13,448,000 after acquiring an additional 117,152 shares during the period.

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.