Blue Acquisition Corp/Cayman (NASDAQ:BACC) Posts Earnings Results

Blue Acquisition Corp/Cayman (NASDAQ:BACC) released its earnings results on Thursday. The company reported $0.06 EPS for the quarter, FiscalAI reports.

Blue Acquisition Corp/Cayman Stock Performance

Shares of BACC traded up $0.12 during mid-day trading on Friday, hitting $10.62. The stock had a trading volume of 85,687 shares, compared to its average volume of 134,260. The business has a fifty day moving average price of $10.48 and a 200-day moving average price of $10.41. Blue Acquisition Corp/Cayman has a 52 week low of $8.51 and a 52 week high of $11.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sona Asset Management US LLC increased its holdings in Blue Acquisition Corp/Cayman by 70.5% in the 1st quarter. Sona Asset Management US LLC now owns 3,342,359 shares of the company’s stock worth $34,125,000 after acquiring an additional 1,382,174 shares during the last quarter. Harraden Circle Investments LLC purchased a new stake in Blue Acquisition Corp/Cayman during the second quarter valued at about $11,286,000. Alberta Investment Management Corp bought a new position in Blue Acquisition Corp/Cayman during the third quarter worth about $7,343,000. Berkley W R Corp boosted its position in 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 during the period. Finally, Calamos Advisors LLC bought a new position in Blue Acquisition Corp/Cayman during the third quarter worth about $1,292,000.

Wall Street Analyst Weigh In

BACC has been the subject of several research reports. Weiss Ratings upgraded shares of Blue Acquisition Corp/Cayman from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, September 1st. Wall Street Zen raised shares of Blue Acquisition Corp/Cayman to a “hold” rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Blue Acquisition Corp/Cayman

Blue Acquisition Corp. is a Cayman Islands-incorporated special purpose acquisition company, or SPAC. It was formed to pursue a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a SPAC, Blue Acquisition Corp. did not have an established operating business or provide its own products or services. Its principal activity was seeking a company to combine with and complete a business combination.