Blue Acquisition Corp/Cayman (NASDAQ:BACC) Short Interest Update

Blue Acquisition Corp/Cayman (NASDAQ:BACC) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 10,723 shares, a drop of 57.4% from the July 15th total of 25,162 shares. Based on an average daily volume of 63,701 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Odeon Capital Group raised shares of Blue Acquisition Corp/Cayman to a “strong-buy” rating in a research note on Wednesday, July 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Blue Acquisition Corp/Cayman in a research note on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of Blue Acquisition Corp/Cayman to a “hold” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Blue Acquisition Corp/Cayman presently has an average rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Stock Performance

Shares of NASDAQ BACC traded down $0.04 during mid-day trading on Friday, reaching $10.51. The company had a trading volume of 328 shares, compared to its average volume of 42,792. The company has a 50-day moving average price of $10.56 and a two-hundred day moving average price of $10.37. Blue Acquisition Corp/Cayman has a 1-year low of $9.95 and a 1-year high of $11.10.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last announced its earnings results on Tuesday, August 11th. The company reported $0.06 EPS for the quarter.

Institutional Trading of Blue Acquisition Corp/Cayman

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meteora Capital LLC purchased a new stake in Blue Acquisition Corp/Cayman during the fourth quarter valued at about $136,000. Stoic Point Capital Management LLC acquired a new position in shares of Blue Acquisition Corp/Cayman in the fourth quarter worth about $255,000. HRT Financial LP purchased a new position in shares of Blue Acquisition Corp/Cayman in the fourth quarter worth approximately $318,000. Heights Capital Management Inc. purchased a new position in shares of Blue Acquisition Corp/Cayman in the fourth quarter worth approximately $342,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter valued at approximately $464,000.

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.