Moore Capital Management LP Makes New $3.05 Million Investment in Blue Moon Metals Inc. $BMM

Moore Capital Management LP purchased a new stake in Blue Moon Metals Inc. (NASDAQ:BMM) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 480,000 shares of the company’s stock, valued at approximately $3,052,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BMM. Periscope Capital Inc. bought a new stake in shares of Blue Moon Metals in the second quarter worth $63,432. DLD Asset Management LP acquired a new stake in Blue Moon Metals in the 2nd quarter valued at $639,000. Bank of America Corp DE lifted its position in Blue Moon Metals by 2,095.4% during the 2nd quarter. Bank of America Corp DE now owns 454,497 shares of the company’s stock worth $2,904,000 after buying an additional 433,795 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Blue Moon Metals by 41.3% during the 2nd quarter. Deutsche Bank AG now owns 953,102 shares of the company’s stock worth $6,090,000 after buying an additional 278,801 shares during the last quarter. Finally, PenderFund Capital Management Ltd. grew its holdings in shares of Blue Moon Metals by 108.0% in the 2nd quarter. PenderFund Capital Management Ltd. now owns 1,176,098 shares of the company’s stock valued at $7,463,000 after acquiring an additional 610,800 shares in the last quarter.

Blue Moon Metals Stock Performance

BMM stock opened at $6.06 on Tuesday. Blue Moon Metals Inc. has a 52 week low of $2.20 and a 52 week high of $8.63. The company has a 50-day simple moving average of $5.69.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Blue Moon Metals from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Blue Moon Metals in a research report on Tuesday, June 16th. Finally, Maxim Group started coverage on shares of Blue Moon Metals in a research note on Friday, June 12th. They issued a “buy” rating and a $15.00 price target for the company. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $15.00.