UY Scuti Acquisition (NASDAQ:UYSC) Releases Quarterly Earnings Results

UY Scuti Acquisition (NASDAQ:UYSC) released its quarterly earnings data on Tuesday. The company reported ($0.28) earnings per share for the quarter, FiscalAI reports.

UY Scuti Acquisition Stock Performance

Shares of UYSC stock opened at $10.73 on Wednesday. UY Scuti Acquisition has a 12-month low of $10.04 and a 12-month high of $11.75. The firm has a 50 day moving average price of $10.69 and a two-hundred day moving average price of $10.48.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On UY Scuti Acquisition

Several institutional investors and hedge funds have recently made changes to their positions in UYSC. Susquehanna International Group LLP bought a new stake in UY Scuti Acquisition in the 3rd quarter valued at $104,000. Gabelli Funds LLC bought a new position in UY Scuti Acquisition during the third quarter worth about $428,000. Clear Street Group Inc. increased its position in UY Scuti Acquisition by 2.6% during the fourth quarter. Clear Street Group Inc. now owns 45,323 shares of the company’s stock worth $465,000 after acquiring an additional 1,140 shares during the period. Radcliffe Capital Management L.P. acquired a new stake in UY Scuti Acquisition in the 2nd quarter worth about $1,258,000. Finally, AQR Arbitrage LLC acquired a new stake in UY Scuti Acquisition in the 2nd quarter worth about $1,343,000.

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.