Short Interest in bleuacacia ltd (NASDAQ:BLEU) Drops By 55.6%

bleuacacia ltd (NASDAQ:BLEU) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totalling 1,200 shares, a drop of 55.6% from the May 31st total of 2,700 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 1,300 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of bleuacacia

Several hedge funds have recently added to or reduced their stakes in BLEU. Quarry LP purchased a new position in bleuacacia in the fourth quarter valued at approximately $300,000. Tuttle Capital Management LLC purchased a new position in bleuacacia in the first quarter valued at approximately $320,000. Robinson Capital Management LLC purchased a new position in bleuacacia in the first quarter valued at approximately $37,000. Finally, Virtu Financial LLC purchased a new position in bleuacacia in the first quarter valued at approximately $397,000. Institutional investors and hedge funds own 13.89% of the company’s stock.

bleuacacia Price Performance

NASDAQ:BLEU remained flat at $10.74 during mid-day trading on Friday. The stock has a 50 day simple moving average of $10.74 and a 200-day simple moving average of $10.74. The firm has a market capitalization of $81.19 million, a price-to-earnings ratio of 56.53 and a beta of 0.01. bleuacacia has a 12 month low of $10.15 and a 12 month high of $11.40.

bleuacacia (NASDAQ:BLEU) last issued its earnings results on Monday, May 20th. The company reported ($0.05) earnings per share for the quarter.

bleuacacia Company Profile

bleuacacia ltd does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to identify business opportunities in the field of premium branded consumer retail.