UY Scuti Acquisition (NASDAQ:UYSC) Posts Earnings Results

UY Scuti Acquisition (NASDAQ:UYSC) issued its earnings results on Thursday. The company reported $0.11 earnings per share (EPS) for the quarter, FiscalAI reports.

UY Scuti Acquisition Trading Up 0.1%

UYSC traded up $0.02 during trading on Friday, hitting $10.80. 1,351 shares of the stock were exchanged. The firm has a 50 day simple moving average of $10.73 and a 200 day simple moving average of $10.55. UY Scuti Acquisition has a 1 year low of $10.10 and a 1 year high of $11.75.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of UY Scuti Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UYSC. Wolverine Asset Management LLC raised its holdings in shares of UY Scuti Acquisition by 8.6% in the 4th quarter. Wolverine Asset Management LLC now owns 502,944 shares of the company’s stock valued at $5,155,000 after purchasing an additional 39,866 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in UY Scuti Acquisition in the second quarter worth approximately $4,522,000. Berkley W R Corp lifted its holdings in UY Scuti Acquisition by 14.3% during the first quarter. Berkley W R Corp now owns 407,586 shares of the company’s stock worth $4,231,000 after buying an additional 50,944 shares during the period. Karpus Management Inc. purchased a new stake in UY Scuti Acquisition during the second quarter worth $2,980,000. Finally, Shaolin Capital Management LLC bought a new stake in UY Scuti Acquisition during the 2nd quarter valued at $2,810,000.

UY Scuti Acquisition Company Profile

UY Scuti Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. It completed its initial public offering on the Nasdaq under the ticker symbol UYSC, raising capital through the sale of units composed of common stock and warrants. As a blank check company, UY Scuti Acquisition holds the IPO proceeds in a trust account while it seeks a suitable business combination.

The firm’s principal objective is to effect a merger, capital stock exchange, asset acquisition or similar business combination with one or more businesses.