UY Scuti Acquisition (NASDAQ:UYSC) Trading Down 0.2% – Here’s Why

Shares of UY Scuti Acquisition Corp. (NASDAQ:UYSC) traded down 0.2% during trading on Wednesday . The stock traded as low as $10.30 and last traded at $10.30. 5,435 shares changed hands during mid-day trading, The stock had previously closed at $10.32.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of UY Scuti Acquisition in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

UY Scuti Acquisition Stock Down 0.2%

The business’s 50 day moving average is $10.28 and its 200-day moving average is $10.20.

Hedge Funds Weigh In On UY Scuti Acquisition

Large investors have recently bought and sold shares of the business. Hudson Bay Capital Management LP purchased a new stake in UY Scuti Acquisition during the 2nd quarter worth about $4,522,000. Wolverine Asset Management LLC purchased a new stake in UY Scuti Acquisition during the second quarter worth approximately $4,271,000. Berkley W R Corp acquired a new position in UY Scuti Acquisition in the second quarter valued at approximately $3,584,000. Karpus Management Inc. acquired a new position in UY Scuti Acquisition in the second quarter valued at approximately $2,980,000. Finally, Shaolin Capital Management LLC purchased a new position in UY Scuti Acquisition in the second quarter valued at approximately $2,810,000.

About UY Scuti Acquisition

UY Scuti Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. It completed its initial public offering on the Nasdaq under the ticker symbol UYSC, raising capital through the sale of units composed of common stock and warrants. As a blank check company, UY Scuti Acquisition holds the IPO proceeds in a trust account while it seeks a suitable business combination.

The firm’s principal objective is to effect a merger, capital stock exchange, asset acquisition or similar business combination with one or more businesses.