UY Scuti Acquisition (NASDAQ:UYSC) Announces Quarterly Earnings Results

UY Scuti Acquisition (NASDAQ:UYSC) issued its quarterly earnings data on Tuesday. The company reported ($0.28) earnings per share (EPS) for the quarter, FiscalAI reports.

UY Scuti Acquisition Price Performance

Shares of NASDAQ:UYSC opened at $10.74 on Tuesday. UY Scuti Acquisition has a 12 month low of $10.04 and a 12 month high of $11.75. The company’s 50-day moving average price is $10.69 and its two-hundred day moving average price is $10.47.

Institutional Trading of UY Scuti Acquisition

Several hedge funds have recently modified their holdings of UYSC. Hudson Bay Capital Management LP bought a new position in UY Scuti Acquisition in the 2nd quarter valued at $4,522,000. Karpus Management Inc. bought a new stake in shares of UY Scuti Acquisition during the second quarter worth $2,980,000. Shaolin Capital Management LLC bought a new stake in shares of UY Scuti Acquisition during the second quarter worth $2,810,000. Rivernorth Capital Management LLC lifted its stake in shares of UY Scuti Acquisition by 35.4% during the fourth quarter. Rivernorth Capital Management LLC now owns 249,695 shares of the company’s stock valued at $2,559,000 after acquiring an additional 65,320 shares during the period. Finally, AQR Arbitrage LLC acquired a new position in shares of UY Scuti Acquisition during the second quarter valued at $1,343,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of UY Scuti Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

UY Scuti Acquisition Company Profile

UY Scuti Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. It completed its initial public offering on the Nasdaq under the ticker symbol UYSC, raising capital through the sale of units composed of common stock and warrants. As a blank check company, UY Scuti Acquisition holds the IPO proceeds in a trust account while it seeks a suitable business combination.

The firm’s principal objective is to effect a merger, capital stock exchange, asset acquisition or similar business combination with one or more businesses.