Black Mountain Acquisition Corp. (NYSE:BMAC) Short Interest Update

Black Mountain Acquisition Corp. (NYSE:BMACGet Rating) saw a significant growth in short interest in May. As of May 31st, there was short interest totalling 2,300 shares, a growth of 1,050.0% from the May 15th total of 200 shares. Based on an average daily volume of 82,500 shares, the short-interest ratio is presently 0.0 days.

NYSE:BMAC traded up $0.03 on Friday, reaching $9.96. 15,245 shares of the company’s stock traded hands, compared to its average volume of 72,250. The stock has a 50-day simple moving average of $9.94 and a 200-day simple moving average of $9.90. Black Mountain Acquisition has a 12 month low of $9.76 and a 12 month high of $10.01.

A number of large investors have recently bought and sold shares of BMAC. Granby Capital Management LLC bought a new stake in Black Mountain Acquisition during the first quarter valued at about $248,000. Royal Bank of Canada increased its holdings in shares of Black Mountain Acquisition by 1,122.5% in the first quarter. Royal Bank of Canada now owns 59,901 shares of the company’s stock worth $595,000 after purchasing an additional 55,001 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of Black Mountain Acquisition in the fourth quarter worth about $1,474,000. Oaktree Capital Management LP bought a new stake in shares of Black Mountain Acquisition in the fourth quarter worth about $1,966,000. Finally, Starboard Value LP bought a new stake in shares of Black Mountain Acquisition in the fourth quarter worth about $2,364,000. 51.63% of the stock is currently owned by institutional investors and hedge funds.

Black Mountain Acquisition Company Profile (Get Rating)

Black Mountain Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Fort Worth, Texas.

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