Berto Acquisition (NASDAQ:TACO) Share Price Breaks Below 50-Day Moving Average – What’s Next?

Berto Acquisition Corp. (NASDAQ:TACO) shares passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $10.47 and traded as low as $10.45. Berto Acquisition shares last traded at $10.45, with a volume of 16,908 shares changing hands.

Analyst Ratings Changes

Several brokerages have recently weighed in on TACO. Weiss Ratings raised Berto Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, August 24th. Wall Street Zen cut shares of Berto Acquisition from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Berto Acquisition Stock Performance

The firm’s 50-day moving average is $10.47 and its two-hundred day moving average is $10.40.

Berto Acquisition (NASDAQ:TACO) last posted its quarterly earnings data on Friday, August 14th. The restaurant operator reported $0.03 earnings per share (EPS) for the quarter.

Institutional Trading of Berto Acquisition

A number of institutional investors have recently made changes to their positions in the company. Levin Capital Strategies L.P. acquired a new position in Berto Acquisition in the 1st quarter valued at $102,000. Cannon Global Investment Management LLC boosted its stake in Berto Acquisition by 12.7% during the 1st quarter. Cannon Global Investment Management LLC now owns 41,700 shares of the restaurant operator’s stock worth $427,000 after purchasing an additional 4,700 shares during the last quarter. Jefferies Financial Group Inc. boosted its stake in Berto Acquisition by 591.4% during the 4th quarter. Jefferies Financial Group Inc. now owns 130,774 shares of the restaurant operator’s stock worth $1,326,000 after purchasing an additional 111,860 shares during the last quarter. Sona Asset Management US LLC purchased a new stake in shares of Berto Acquisition during the first quarter worth $1,697,000. Finally, Periscope Capital Inc. grew its holdings in shares of Berto Acquisition by 8.7% during the fourth quarter. Periscope Capital Inc. now owns 195,000 shares of the restaurant operator’s stock worth $1,977,000 after buying an additional 15,600 shares in the last quarter.

About Berto Acquisition

Berto Acquisition Corp. (NASDAQ:TACO) is a special purpose acquisition company, or SPAC. Unlike an operating company, it was formed to raise capital through a public offering and use the proceeds to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more private companies.

Because Berto Acquisition Corp. is a blank-check company, it does not have an established portfolio of products or services, operating divisions, or a defined customer base.