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

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was the recipient of a large 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. Based on an average daily volume of 409,813 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Blue Acquisition Corp/Cayman

Several institutional investors have recently added to or reduced their stakes in BACC. Sona Asset Management US LLC purchased a new position in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at $20,013,000. Alberta Investment Management Corp purchased a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at $7,147,000. Lineage Point Capital LP purchased a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at $4,404,000. Readystate Asset Management LP acquired a new position in Blue Acquisition Corp/Cayman in the fourth quarter valued at $1,532,000. Finally, Berkley W R Corp boosted its stake in Blue Acquisition Corp/Cayman by 40.6% in the first 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 in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Odean Cap Resea raised 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 report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Stock Performance

NASDAQ:BACC opened at $10.48 on Friday. The company has a fifty day simple moving average of $10.53. Blue Acquisition Corp/Cayman has a 12 month low of $9.95 and a 12 month high of $11.10.

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

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.