Blue Acquisition Corp/Cayman (NASDAQ:BACC) Short Interest Up 203.9% in June

Blue Acquisition Corp/Cayman (NASDAQ:BACC) saw a significant 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. Based on an average daily volume of 93,486 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of 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, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank raised its stake in shares of Blue Acquisition Corp/Cayman by 2.1% during the fourth quarter. Toronto Dominion Bank now owns 300,500 shares of the company’s stock valued at $3,068,000 after acquiring an additional 6,100 shares during the last quarter. Meteora Capital LLC acquired a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at $136,000. Stoic Point Capital Management LLC acquired a new stake in Blue Acquisition Corp/Cayman in the fourth quarter valued at $255,000. HRT Financial LP bought a new position in Blue Acquisition Corp/Cayman during the 4th quarter worth $318,000. Finally, Heights Capital Management Inc. bought a new stake in shares of Blue Acquisition Corp/Cayman in the 4th quarter valued at about $342,000.

Blue Acquisition Corp/Cayman Stock Performance

Shares of BACC stock traded up $0.28 during trading hours on Tuesday, reaching $10.65. The company’s stock had a trading volume of 2,183,332 shares, compared to its average volume of 69,085. Blue Acquisition Corp/Cayman has a fifty-two week low of $9.95 and a fifty-two week high of $10.65. The company’s 50 day moving average is $10.39.

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

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.