Black Hawk Acquisition Corporation (NASDAQ:BKHA) Sees Large Decline in Short Interest

Black Hawk Acquisition Corporation (NASDAQ:BKHA) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 53 shares, a decrease of 83.2% from the August 31st total of 316 shares. Based on an average daily trading volume, of 122 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the company’s stock are sold short.

Black Hawk Acquisition Stock Performance

Black Hawk Acquisition stock opened at $12.47 on Friday. Black Hawk Acquisition has a fifty-two week low of $11.00 and a fifty-two week high of $13.10. The firm’s 50-day simple moving average is $11.94 and its 200 day simple moving average is $11.94.

Black Hawk Acquisition (NASDAQ:BKHA) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $0.02 EPS for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Black Hawk Acquisition in a research note on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Trading of Black Hawk Acquisition

A hedge fund recently raised its position in Black Hawk Acquisition stock. Clear Street Group Inc. increased its holdings in shares of Black Hawk Acquisition Corporation (NASDAQ:BKHA) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,031 shares of the company’s stock after acquiring an additional 6,158 shares during the quarter. Clear Street Group Inc. owned approximately 1.42% of Black Hawk Acquisition worth $664,000 as of its most recent SEC filing.

Black Hawk Acquisition Company Profile

Black Hawk Acquisition Corp. (NASDAQ: BKHA) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Unlike an operating company, it does not currently offer products or services to customers.

The company’s principal objective is to raise capital through the public markets and use those funds, together with other financing, to acquire or merge with a target business. The transaction could provide the target with access to public-market capital and result in the combined company becoming publicly traded.

Black Hawk Acquisition’s specific target industry, geographic focus, operating activities and long-term leadership structure depend on the business combination it ultimately pursues.