Blue Acquisition Corp/Cayman (NASDAQ:BACC) Short Interest Down 57.4% in July

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

Blue Acquisition Corp/Cayman Trading Down 0.3%

Blue Acquisition Corp/Cayman stock traded down $0.04 during mid-day trading on Friday, hitting $10.51. The company’s stock had a trading volume of 328 shares, compared to its average volume of 42,792. Blue Acquisition Corp/Cayman has a 1 year low of $9.95 and a 1 year high of $11.10. The stock’s fifty day moving average is $10.56 and its two-hundred day moving average is $10.37.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BACC. HRT Financial LP purchased a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at approximately $318,000. MYDA Advisors LLC acquired a new stake in Blue Acquisition Corp/Cayman in the 4th quarter valued at approximately $756,000. Verition Fund Management LLC increased its holdings in Blue Acquisition Corp/Cayman by 36.4% in the 4th quarter. Verition Fund Management LLC now owns 375,000 shares of the company’s stock valued at $3,829,000 after purchasing an additional 100,000 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at approximately $7,147,000. Finally, Radcliffe Capital Management L.P. raised its position in Blue Acquisition Corp/Cayman by 9.4% in the fourth quarter. Radcliffe Capital Management L.P. now owns 524,100 shares of the company’s stock valued at $5,351,000 after purchasing an additional 44,880 shares during the period.

Blue Acquisition Corp/Cayman Company Profile

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.