Berto Acquisition Corp. (NASDAQ:TACO) Shares Shorted: Short Interest Down 64.0% in September

Berto Acquisition Corp. (NASDAQ:TACO) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 2,048 shares, a drop of 64.0% from the September 15th total of 5,689 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 68,079 shares, the short-interest ratio is currently 0.0 days.

Institutional Trading of Berto Acquisition

A number of hedge funds have recently added to or reduced their stakes in TACO. Berkley W R Corp boosted its position in Berto Acquisition by 77.9% during the 1st quarter. Berkley W R Corp now owns 1,822,598 shares of the restaurant operator’s stock worth $18,682,000 after buying an additional 797,864 shares during the period. Governors Lane LP acquired a new position in Berto Acquisition in the 2nd quarter valued at approximately $14,162,000. Lineage Point Capital LP acquired a new position in Berto Acquisition in the 4th quarter valued at approximately $4,862,000. SkyView Investment Advisors LLC acquired a new position in Berto Acquisition in the 2nd quarter valued at approximately $4,549,000. Finally, K2 Principal Fund L.P. increased its position in Berto Acquisition by 39.2% in the 4th quarter. K2 Principal Fund L.P. now owns 355,204 shares of the restaurant operator’s stock valued at $3,602,000 after acquiring an additional 100,000 shares during the period.

Wall Street Analysts Forecast Growth

TACO has been the subject of several recent analyst reports. Weiss Ratings raised shares of Berto Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. Wall Street Zen downgraded shares of Berto Acquisition from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Berto Acquisition Stock Performance

NASDAQ:TACO traded down $0.01 during mid-day trading on Wednesday, reaching $10.47. The stock had a trading volume of 105,607 shares, compared to its average volume of 83,083. Berto Acquisition has a 12 month low of $10.11 and a 12 month high of $10.63. The stock has a 50-day simple moving average of $10.47 and a two-hundred day simple moving average of $10.42.

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

About Berto Acquisition

Berto Acquisition Corp. is a special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol TACO. The company was formed to identify and complete a merger, share exchange, asset acquisition, or similar business combination with one or more operating businesses.

As an acquisition company, Berto does not operate a commercial business or offer products and services of its own. Its activities primarily involve evaluating potential target companies and pursuing a suitable transaction.