Black Hawk Acquisition Co. (NASDAQ:BKHAR) Sees Large Growth in Short Interest

Black Hawk Acquisition Co. (NASDAQ:BKHAR) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 4,370 shares, a growth of 6,142.9% from the April 30th total of 70 shares. Based on an average trading volume of 23,714 shares, the short-interest ratio is currently 0.2 days.

Black Hawk Acquisition Price Performance

BKHAR stock remained flat at $1.40 during trading on Wednesday. The company had a trading volume of 900 shares, compared to its average volume of 9,978. The firm’s 50-day moving average price is $1.35 and its 200-day moving average price is $1.40. Black Hawk Acquisition has a 12-month low of $0.86 and a 12-month high of $2.06.

About Black Hawk Acquisition

Black Hawk Acquisition Corp. is a special purpose acquisition company (SPAC) organized to pursue merger, share exchange, asset acquisition, stock purchase, recapitalization, restructuring or similar business combination transactions with one or more businesses. The company’s objective is to identify and acquire a target company in industries that exhibit strong growth potential, such as technology, digital media and consumer products. The blank-check vehicle structure allows Black Hawk Acquisition to leverage its capital and sponsor expertise to complete a business combination.

Formed in mid-2021, Black Hawk Acquisition completed its initial public offering on the Nasdaq under the ticker symbol BKHAR, raising approximately $250 million in gross proceeds.