Governors Lane LP Purchases 100,000 Shares of Blue Acquisition Corp/Cayman $BACC

Governors Lane LP grew its position in shares of Blue Acquisition Corp/Cayman (NASDAQ:BACC) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 300,000 shares of the company’s stock after purchasing an additional 100,000 shares during the quarter. Governors Lane LP owned about 1.07% of Blue Acquisition Corp/Cayman worth $3,063,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Meteora Capital LLC bought a new position in Blue Acquisition Corp/Cayman during the 4th quarter worth approximately $136,000. HRT Financial LP bought a new position in Blue Acquisition Corp/Cayman during the 4th quarter worth approximately $318,000. Heights Capital Management Inc. bought a new position in Blue Acquisition Corp/Cayman during the 4th quarter worth approximately $342,000. Radcliffe Capital Management L.P. raised its holdings in 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 worth $5,351,000 after purchasing an additional 44,880 shares during the last quarter. Finally, Boothbay Fund Management LLC bought a new position in Blue Acquisition Corp/Cayman during the 4th quarter worth approximately $464,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Blue Acquisition Corp/Cayman Price Performance

NASDAQ:BACC opened at $10.45 on Thursday. The company has a fifty day moving average of $10.36. Blue Acquisition Corp/Cayman has a twelve month low of $9.95 and a twelve month high of $10.50.

Blue Acquisition Corp/Cayman (NASDAQ:BACC) last released its quarterly earnings data on Monday, May 11th. The company reported $0.07 earnings per share for the quarter.

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.