Bluemount (NASDAQ:BMHL) Trading Down 4% – Should You Sell?

Bluemount Holdings Limited (NASDAQ:BMHL)’s share price fell 4% during mid-day trading on Wednesday . The stock traded as low as $3.43 and last traded at $3.58. 1,659 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 2,456 shares. The stock had previously closed at $3.73.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e-)” rating on shares of Bluemount in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Bluemount Price Performance

The firm has a fifty day moving average of $3.63 and a 200 day moving average of $3.61.

Institutional Investors Weigh In On Bluemount

An institutional investor recently bought a new position in Bluemount stock. Citadel Advisors LLC bought a new stake in shares of Bluemount Holdings Limited (NASDAQ:BMHL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 58,467 shares of the company’s stock, valued at approximately $202,000. Citadel Advisors LLC owned about 0.23% of Bluemount at the end of the most recent quarter.

About Bluemount

Bluemount, Inc is a special purpose acquisition company (SPAC) organized as a Cayman Islands exempted company and listed on the Nasdaq Stock Market under the ticker symbol BMHL. As a blank check company, Bluemount has no ongoing commercial operations and was formed to raise capital through an initial public offering for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination.

Following its public listing, Bluemount holds its proceeds in a trust account until it identifies and completes a business combination with one or more target companies.