Berto Acquisition Corp. (NASDAQ:TACO) Sees Significant Decrease in Short Interest

Berto Acquisition Corp. (NASDAQ:TACO) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 5,689 shares, a decline of 77.9% from the August 31st total of 25,746 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 39,690 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On Berto Acquisition

A number of large investors have recently bought and sold shares of TACO. Berkley W R Corp lifted its stake in shares of Berto Acquisition by 77.9% in the 1st quarter. Berkley W R Corp now owns 1,822,598 shares of the restaurant operator’s stock worth $18,682,000 after acquiring an additional 797,864 shares during the period. Governors Lane LP acquired a new position in shares of Berto Acquisition during the second quarter worth about $14,162,000. Lineage Point Capital LP acquired a new position in shares of Berto Acquisition during the fourth quarter worth about $4,862,000. SkyView Investment Advisors LLC acquired a new position in shares of Berto Acquisition during the second quarter worth about $4,549,000. Finally, Mint Tower Capital Management B.V. purchased a new position in Berto Acquisition during the fourth quarter worth about $4,164,000.

Wall Street Analyst Weigh In

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

Berto Acquisition Stock Performance

Shares of TACO stock remained flat at $10.45 during midday trading on Friday. The company’s stock had a trading volume of 17,466 shares, compared to its average volume of 41,960. The stock has a 50-day simple moving average of $10.47 and a 200 day simple moving average of $10.40. Berto Acquisition has a one year low of $10.11 and a one year high of $10.65.

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

About Berto Acquisition

Berto Acquisition Corp. (NASDAQ:TACO) is a special purpose acquisition company, or SPAC. Unlike an operating company, it was formed to raise capital through a public offering and use the proceeds to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more private companies.

Because Berto Acquisition Corp. is a blank-check company, it does not have an established portfolio of products or services, operating divisions, or a defined customer base.