bleuacacia (NASDAQ:BLEU) Trading 2.3% Higher – Here’s Why

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

bleuacacia Stock Performance

The firm has a 50-day moving average of $10.91 and a 200-day moving average of $10.82. The firm has a market capitalization of $83.85 million, a P/E ratio of 57.63 and a beta of 0.02.

Institutional Investors Weigh In On bleuacacia

Several institutional investors and hedge funds have recently bought and sold shares of the business. Robinson Capital Management LLC purchased a new stake in bleuacacia in the 1st quarter worth approximately $37,000. Quarry LP purchased a new stake in bleuacacia in the 2nd quarter worth approximately $300,000. Finally, Virtu Financial LLC purchased a new stake in bleuacacia in the 1st quarter worth approximately $397,000. Hedge funds and other institutional investors own 13.89% of the company’s stock.

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.