bleuacacia (NASDAQ:BLEU) Trading Up 2.3% – Here’s What Happened

bleuacacia ltd (NASDAQ:BLEU)’s stock price was up 2.3% during mid-day trading on Tuesday . The stock traded as high as $11.25 and last traded at $11.20. Approximately 1,500 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 5,522 shares. The stock had previously closed at $10.95.

bleuacacia Price Performance

The company has a 50-day moving average price of $10.91 and a 200-day moving average price of $10.81. The firm has a market capitalization of $84.63 million, a PE ratio of 57.63 and a beta of 0.02.

Hedge Funds Weigh In On bleuacacia

Several large investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in bleuacacia during the second quarter worth about $300,000. Virtu Financial LLC acquired a new stake in bleuacacia during the first quarter worth about $397,000. Finally, Robinson Capital Management LLC acquired a new stake in bleuacacia during the first quarter worth about $37,000. 13.89% of the stock is currently owned by hedge funds and other institutional investors.

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.