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

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

Blue Acquisition Corp/Cayman Stock Up 0.1%

NASDAQ BACC traded up $0.01 during trading hours on Thursday, reaching $10.50. The company’s stock had a trading volume of 397,061 shares, compared to its average volume of 134,872. The firm has a fifty day simple moving average of $10.48 and a 200-day simple moving average of $10.41. Blue Acquisition Corp/Cayman has a 52 week low of $10.11 and a 52 week high of $11.10.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Blue Acquisition Corp/Cayman

Institutional investors have recently added to or reduced their stakes in the business. Context Capital Management LLC bought a new position in shares of Blue Acquisition Corp/Cayman during the third quarter valued at $1,050,000. Calamos Advisors LLC bought a new stake in shares of Blue Acquisition Corp/Cayman in the third quarter worth $1,292,000. Berkley W R Corp grew its stake in shares of Blue Acquisition Corp/Cayman by 40.6% in 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 last quarter. Alberta Investment Management Corp bought a new stake in shares of Blue Acquisition Corp/Cayman in the third quarter worth $7,343,000. Finally, Harraden Circle Investments LLC acquired a new stake in Blue Acquisition Corp/Cayman in the second quarter valued at $11,286,000.

Blue Acquisition Corp/Cayman Company Profile

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.