Blue Acquisition Corp/Cayman (NASDAQ:BACC) Upgraded at Odean Cap Resea

Odean Cap Resea upgraded shares of Blue Acquisition Corp/Cayman (NASDAQ:BACC) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings upgraded Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Stock Down 0.4%

NASDAQ:BACC traded down $0.04 during mid-day trading on Wednesday, reaching $11.02. The stock had a trading volume of 65,226 shares, compared to its average volume of 320,543. Blue Acquisition Corp/Cayman has a twelve month low of $9.95 and a twelve month high of $11.10. The firm’s 50 day moving average price is $10.50.

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

Institutional Trading of Blue Acquisition Corp/Cayman

A number of institutional investors have recently added to or reduced their stakes in BACC. Meteora Capital LLC acquired a new position in Blue Acquisition Corp/Cayman during the fourth quarter worth about $136,000. Stoic Point Capital Management LLC purchased a new position in Blue Acquisition Corp/Cayman in the fourth quarter valued at about $255,000. HRT Financial LP acquired a new stake in shares of Blue Acquisition Corp/Cayman during the 4th quarter valued at approximately $318,000. Heights Capital Management Inc. acquired a new stake in shares of Blue Acquisition Corp/Cayman during the 4th quarter valued at approximately $342,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Blue Acquisition Corp/Cayman during the 4th quarter valued at approximately $464,000.

About Blue Acquisition Corp/Cayman

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.