Bluemount (NASDAQ:BMHL) Trading Down 4% – Here’s Why

Bluemount Holdings Limited (NASDAQ:BMHL) dropped 4% on Wednesday . The stock traded as low as $3.43 and last traded at $3.58. Approximately 1,659 shares changed hands during trading, a decline of 32% from the average daily volume of 2,456 shares. The stock had previously closed at $3.73.

Analyst Ratings Changes

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

Bluemount Price Performance

The business has a 50-day moving average price of $3.63 and a 200 day moving average price of $3.61.

Hedge Funds Weigh In On Bluemount

A hedge fund recently bought a new stake in Bluemount stock. Citadel Advisors LLC purchased a new position in Bluemount Holdings Limited (NASDAQ:BMHL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 58,467 shares of the company’s stock, valued at approximately $202,000. Citadel Advisors LLC owned approximately 0.23% of Bluemount at the end of the most recent reporting period.

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.