Black Mountain Acquisition Corp. (NYSE:BMAC – Get 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 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.
- Get a free copy of the StockNews.com research report on Black Mountain Acquisition (BMAC)
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