Blue Acquisition Corp/Cayman (NASDAQ:BACC) Shares Up 0.1% – Still a Buy?

Blue Acquisition Corp/Cayman (NASDAQ:BACC) was up 0.1% during mid-day trading on Tuesday. The stock traded as high as $10.50 and last traded at $10.49. Approximately 321 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 116,112 shares. The stock had previously closed at $10.48.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BACC. Odeon Capital Group raised shares of Blue Acquisition Corp/Cayman to a “strong-buy” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Blue Acquisition Corp/Cayman from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. Finally, Wall Street Zen upgraded Blue Acquisition Corp/Cayman to a “hold” rating in a research note on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Price Performance

The business’s 50-day moving average price is $10.51 and its 200 day moving average price is $10.44.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BACC. MYDA Advisors LLC bought a new stake in Blue Acquisition Corp/Cayman during the fourth quarter valued at $756,000. Governors Lane LP increased its stake in Blue Acquisition Corp/Cayman by 50.0% in the 4th quarter. Governors Lane LP now owns 300,000 shares of the company’s stock worth $3,063,000 after acquiring an additional 100,000 shares during the last quarter. Lineage Point Capital LP purchased a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at about $4,404,000. Berkley W R Corp raised its holdings in shares of Blue Acquisition Corp/Cayman by 40.6% in the 1st quarter. Berkley W R Corp now owns 441,650 shares of the company’s stock valued at $4,509,000 after acquiring an additional 127,428 shares in the last quarter. Finally, Radcliffe Capital Management L.P. boosted its position in shares of Blue Acquisition Corp/Cayman by 9.4% during the 4th quarter. Radcliffe Capital Management L.P. now owns 524,100 shares of the company’s stock valued at $5,351,000 after acquiring an additional 44,880 shares during the last quarter.

About Blue Acquisition Corp/Cayman

Blue Acquisition Corp. is a Cayman Islands-incorporated special purpose acquisition company (SPAC) that was formed to identify and complete a business combination with an operating company or other business. Its potential transaction may take the form of a merger, share exchange, asset acquisition, reorganization or similar corporate combination.

As a SPAC, Blue Acquisition Corp. does not operate a traditional business and does not manufacture products or provide services to customers.