Bluerock Acquisition Corp. (NASDAQ:BLRK) Sees Large Increase in Short Interest

Bluerock Acquisition Corp. (NASDAQ:BLRK) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 36,929 shares, a growth of 26,090.8% from the July 15th total of 141 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 20,216 shares, the days-to-cover ratio is presently 1.8 days.

Bluerock Acquisition Stock Performance

Bluerock Acquisition stock traded down $0.01 during midday trading on Tuesday, reaching $10.06. The stock had a trading volume of 45,748 shares, compared to its average volume of 25,587. The company’s fifty day moving average is $10.02. Bluerock Acquisition has a 1-year low of $9.87 and a 1-year high of $10.68.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e-)” rating on shares of Bluerock Acquisition in a research note on Friday, July 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Bluerock Acquisition Company Profile

Bluerock Acquisition Corporation (NASDAQ: BLRK) is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering for the purpose of effecting a merger, capital stock exchange, asset acquisition, purchase of securities or other similar business combination. As a blank-check vehicle, the company’s primary corporate purpose is to identify and complete a business combination that will result in a non-SPAC operating company with publicly traded equity.

Following its IPO, Bluerock Acquisition typically holds the proceeds in a trust account while its management team evaluates potential targets, negotiates transaction terms and seeks shareholder approval for a proposed combination.