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

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

UY Scuti Acquisition Trading Up 0.1%

UYSC stock traded up $0.01 during midday trading on Thursday, reaching $10.79. 6,308 shares of the company’s stock traded hands. The company has a 50-day moving average price of $10.72 and a two-hundred day moving average price of $10.55. UY Scuti Acquisition has a 52 week low of $10.09 and a 52 week high of $11.75.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised 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, According to MarketBeat.com, UY Scuti Acquisition currently has an average rating of “Sell”.

Hedge Funds Weigh In On UY Scuti Acquisition

Hedge funds have recently made changes to their positions in the stock. Berkley W R Corp lifted its holdings in UY Scuti Acquisition by 14.3% during the 1st quarter. Berkley W R Corp now owns 407,586 shares of the company’s stock worth $4,231,000 after purchasing an additional 50,944 shares in the last quarter. Rivernorth Capital Management LLC grew its holdings in UY Scuti Acquisition by 35.4% during the 4th quarter. Rivernorth Capital Management LLC now owns 249,695 shares of the company’s stock valued at $2,559,000 after buying an additional 65,320 shares in the last quarter. Clear Street Group Inc. lifted its holdings in shares of UY Scuti Acquisition by 2.6% in the fourth quarter. Clear Street Group Inc. now owns 45,323 shares of the company’s stock worth $465,000 after buying an additional 1,140 shares in the last quarter. Wolverine Asset Management LLC lifted its holdings in shares of UY Scuti Acquisition by 8.6% in the fourth quarter. Wolverine Asset Management LLC now owns 502,944 shares of the company’s stock worth $5,155,000 after buying an additional 39,866 shares in the last quarter. Finally, Susquehanna International Group LLP bought a new position in shares of UY Scuti Acquisition in the third quarter valued at approximately $104,000.

About UY Scuti Acquisition

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.