Blue Acquisition Corp/Cayman (NASDAQ:BACC) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Blue Acquisition Corp/Cayman (NASDAQ:BACC) to a hold rating in a report published on Saturday morning.

BACC has been the topic of several other research reports. Weiss Ratings upgraded shares of Blue Acquisition Corp/Cayman from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. Odeon Capital Group upgraded Blue Acquisition Corp/Cayman to a “strong-buy” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Blue Acquisition Corp/Cayman Stock Performance

BACC stock opened at $10.46 on Friday. Blue Acquisition Corp/Cayman has a fifty-two week low of $9.95 and a fifty-two week high of $11.10. The firm has a 50-day moving average price of $10.54.

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

Institutional Investors Weigh In On Blue Acquisition Corp/Cayman

Institutional investors and hedge funds have recently bought and sold shares of the business. Sona Asset Management US LLC lifted its position in shares of Blue Acquisition Corp/Cayman by 70.5% in the first quarter. Sona Asset Management US LLC now owns 3,342,359 shares of the company’s stock valued at $34,125,000 after acquiring an additional 1,382,174 shares in the last quarter. Berkley W R Corp grew its position in shares of Blue Acquisition Corp/Cayman by 40.6% during the first quarter. Berkley W R Corp now owns 441,650 shares of the company’s stock worth $4,509,000 after purchasing an additional 127,428 shares in the last quarter. Lineage Point Capital LP purchased a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter worth about $4,404,000. Stoic Point Capital Management LLC bought a new stake in Blue Acquisition Corp/Cayman during the 4th quarter valued at approximately $255,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. raised its stake in Blue Acquisition Corp/Cayman by 9.8% during the 4th quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 1,317,152 shares of the company’s stock valued at $13,448,000 after purchasing an additional 117,152 shares during the period.

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.