Blue Acquisition Corp/Cayman (NASDAQ:BACC) Issues Quarterly Earnings Results

Blue Acquisition Corp/Cayman (NASDAQ:BACC) released its quarterly earnings results on Monday. The company reported $0.07 EPS for the quarter, FiscalAI reports.

Blue Acquisition Corp/Cayman Trading Down 0.7%

Shares of Blue Acquisition Corp/Cayman stock traded down $0.07 during midday trading on Tuesday, hitting $10.37. The company had a trading volume of 20,632 shares, compared to its average volume of 43,591. The company’s 50 day moving average price is $10.23. Blue Acquisition Corp/Cayman has a 1-year low of $9.95 and a 1-year high of $10.50.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Blue Acquisition Corp/Cayman

Hedge funds have recently bought and sold shares of the stock. Verition Fund Management LLC lifted its holdings in Blue Acquisition Corp/Cayman by 36.4% during the 4th quarter. Verition Fund Management LLC now owns 375,000 shares of the company’s stock worth $3,829,000 after purchasing an additional 100,000 shares during the last quarter. Toronto Dominion Bank grew its holdings in Blue Acquisition Corp/Cayman by 2.1% in the 4th quarter. Toronto Dominion Bank now owns 300,500 shares of the company’s stock valued at $3,068,000 after buying an additional 6,100 shares in the last quarter. Readystate Asset Management LP bought a new position in Blue Acquisition Corp/Cayman during the 4th quarter worth $1,532,000. Boothbay Fund Management LLC bought a new position in Blue Acquisition Corp/Cayman during the 4th quarter worth $464,000. Finally, Heights Capital Management Inc. acquired a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter worth $342,000.

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.