Bluemount (NASDAQ:BMHL) Shares Down 5.3% – Time to Sell?

Shares of Bluemount Holdings Limited (NASDAQ:BMHL) traded down 5.3% on Thursday . The company traded as low as $3.43 and last traded at $3.55. 4,178 shares traded hands during trading, an increase of 18% from the average session volume of 3,540 shares. The stock had previously closed at $3.75.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e-)” rating on shares of Bluemount in a research report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Bluemount has an average rating of “Sell”.

Bluemount Stock Performance

The firm’s fifty day simple moving average is $3.55.

Hedge Funds Weigh In On Bluemount

An institutional investor recently bought a new position in Bluemount stock. Citadel Advisors LLC purchased a new stake in Bluemount Holdings Limited (NASDAQ:BMHL) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 58,467 shares of the company’s stock, valued at approximately $202,000. Citadel Advisors LLC owned 0.23% of Bluemount as of its most recent SEC filing.

Bluemount Company Profile

Bluemount, Inc is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company and listed on the Nasdaq Stock Market under the ticker symbol BMHL. As a blank check company, Bluemount has no ongoing commercial operations and was formed to raise capital through an initial public offering for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination.

Following its public listing, Bluemount holds its proceeds in a trust account until it identifies and completes a business combination with one or more target companies.