Blue Acquisition Corp/Cayman (NASDAQ:BACC) Short Interest Update

Blue Acquisition Corp/Cayman (NASDAQ:BACC) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 13,039 shares, a growth of 203.9% from the May 31st total of 4,291 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 93,486 shares, the days-to-cover ratio is presently 0.1 days.

Blue Acquisition Corp/Cayman Price Performance

BACC remained flat at $10.40 during midday trading on Friday. The company’s stock had a trading volume of 30,361 shares, compared to its average volume of 70,439. Blue Acquisition Corp/Cayman has a fifty-two week low of $9.95 and a fifty-two week high of $10.50. The stock’s 50 day simple moving average is $10.38.

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

Hedge Funds Weigh In On Blue Acquisition Corp/Cayman

Institutional investors have recently bought and sold shares of the stock. Meteora Capital LLC bought a new stake in Blue Acquisition Corp/Cayman during the 4th quarter valued at approximately $136,000. Stoic Point Capital Management LLC purchased a new position in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at approximately $255,000. HRT Financial LP purchased a new position in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at approximately $318,000. Heights Capital Management Inc. bought a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter valued at approximately $342,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Blue Acquisition Corp/Cayman during the fourth quarter valued at approximately $464,000.

Analyst Upgrades and Downgrades

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

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.