Blue Acquisition Corp/Cayman (NASDAQ:BACC) Stock Price Up 0.1% – Here’s What Happened

Blue Acquisition Corp/Cayman (NASDAQ:BACC) traded up 0.1% during mid-day trading on Thursday . The stock traded as high as $10.18 and last traded at $10.18. 54,323 shares were traded during mid-day trading, a decline of 51% from the average session volume of 111,101 shares. The stock had previously closed at $10.17.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings started coverage on Blue Acquisition Corp/Cayman in a report on Monday, January 26th. They issued a “sell (e)” rating for the company. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Blue Acquisition Corp/Cayman Trading Up 0.1%

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC boosted its holdings in shares of Blue Acquisition Corp/Cayman by 36.4% during the 4th quarter. Verition Fund Management LLC now owns 375,000 shares of the company’s stock valued at $3,829,000 after acquiring an additional 100,000 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Blue Acquisition Corp/Cayman by 2.1% in the 4th quarter. Toronto Dominion Bank now owns 300,500 shares of the company’s stock worth $3,068,000 after buying an additional 6,100 shares during the last quarter. Readystate Asset Management LP bought a new stake in shares of Blue Acquisition Corp/Cayman in the fourth quarter worth $1,532,000. Boothbay Fund Management LLC purchased a new stake in Blue Acquisition Corp/Cayman during the fourth quarter valued at $464,000. Finally, Heights Capital Management Inc. bought a new position in Blue Acquisition Corp/Cayman in the fourth quarter valued at about $342,000.

About Blue Acquisition Corp/Cayman

Blue Acquisition Corp/Cayman (NASDAQ: BACC) is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company. As a blank-check vehicle, its primary business activity is to raise capital through its public listing and use those proceeds to identify, negotiate and complete a merger, acquisition, share exchange, asset acquisition, reorganization or similar business combination with one or more operating businesses.

Like other SPACs, Blue Acquisition typically holds the funds raised in trust pending the completion of a qualifying business combination and provides public investors with the opportunity to vote on proposed transactions and to seek redemption of their shares in accordance with the company’s governing documents.