bleuacacia ltd (NASDAQ:BLEU) Sees Large Increase in Short Interest

bleuacacia ltd (NASDAQ:BLEU) was the target of a large increase in short interest in May. As of May 31st, there was short interest totalling 2,700 shares, an increase of 50.0% from the May 15th total of 1,800 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average trading volume of 1,400 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Investors Weigh In On bleuacacia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Robinson Capital Management LLC purchased a new stake in bleuacacia in the 1st quarter worth approximately $37,000. Quarry LP bought a new position in shares of bleuacacia during the 4th quarter valued at $300,000. Tuttle Capital Management LLC bought a new position in shares of bleuacacia during the 1st quarter valued at $320,000. Finally, Virtu Financial LLC bought a new position in shares of bleuacacia during the 1st quarter valued at $397,000. Hedge funds and other institutional investors own 13.89% of the company’s stock.

bleuacacia Stock Performance

bleuacacia has a 12-month low of $10.15 and a 12-month high of $11.40. The stock has a market cap of $81.22 million, a P/E ratio of 56.58 and a beta of 0.01. The company has a 50 day moving average price of $10.74 and a 200 day moving average price of $10.73.

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

About bleuacacia

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.