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Black Hawk Acquisition Corp (BKHA) stock

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NASDAQ: BKHA Nasdaq Biotechnology

Black Hawk Acquisition Corp is a US-listed company in the biotechnology industry. Its financial year ends in November.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$2.9

Price-to-earnings vs peers

Base case. Range ~$2.3–$6.6. Earnings per share times peers' typical (harmonic-mean) price-to-earnings.

Price vs value

No Buy/Hold/Sell rating is issued: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Black Hawk Acquisition Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds5 adding, 7 cuttingOf 0 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

The Fundamentalytics view

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in Black Hawk Acquisition Corp's latest figures clears our strength thresholds.

Things to watch

  • Volatile shares. Over the past year the shares showed annualised volatility of 68% and a beta of 0.3 against the S&P 500.

Price chart

  • 1 day-0.4%
  • 1 week-13.0%
  • 1 month-62.0%
  • This year-58.2%
  • 1 year-58.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Shareholder vote
  3. Agreement
  4. Announcement
  5. Agreement
  6. Announcement
  7. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Black Hawk Acquisition Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: limited reported history: available models are shown without a Buy/Hold/Sell rating.

Valuation models

We value Black Hawk Acquisition Corp as an operating company, with every model that fits that kind of business. Cost of equity 8.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.8 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$2.9 ~$2.3–$6.6 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. — Does not apply: earnings are positive: price-to-earnings is the better measure
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$2.9 ~$2.3–$6.6 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Black Hawk Acquisition Corp with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Black Hawk Acquisition Corp: too few analysts cover it.

Positioning

Short interest
4.7%
of tradable shares
Days to cover
3.09
at average volume
Short interest, 1 month
+194643%
to October 15, 2026
Held by institutions
97%
of shares
Held by insiders
106.6%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Return and risk by year

Calendar year 20252026 to date
Return
BKHA+8%−58%
Industry peers (median)−5%−26%
S&P 500+18%+11%
Months that ended higher
BKHA83%64%
S&P 50075%46%
Largest fall from a high during the year
BKHA−5%−69%
S&P 500−19%−9%

Worst fall since May 13, 2024: 69% from July 22, 2026 to October 19, 2026. Getting back needed a 225% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$4.03 – $13.10
From 52-week high
−64.1%
vs 50-day average
−53.8%
vs 200-day average
−58.6%
Volatility (1 year)
69%
Beta vs S&P 500
0.31

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Who owns it

Funds buying and selling
Reported value
$27.4M
Institutions reporting
22
Shares held vs prior quarter
▲ 18.1%
Positions opened / closed
1 / 2

Top buyers and sellers, Q2 2026: 5 institutions bought and 7 sold ; the biggest buyer was Mizuho Securities Usa LLC (+374K shares) and the biggest seller Meteora Capital, LLC (−25K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Mizuho Securities Usa LLC $8.6M 748K 31.4% ▲ 100.0%
Wolverine Asset Management LLC $3.9M 331K 14.2% ▼ 2.8%
Berkley W R Corp $3.9M 315K 14.2% ▲ 1.8%
AQR Arbitrage LLC $1.6M 133K 5.7% ▲ 0.7%
Boothbay Fund Management, LLC $1.4M 120K 5.2% 0.0%
Westchester Capital Management, LLC $1.2M 102K 4.4% 0.0%
Yakira Capital Management, Inc. $1.1M 89K 3.9% 0.0%
Clear Street Group Inc. $970,439 81K 3.5% ▲ 9.2%
D. E. Shaw & Co., Inc. $882,750 75K 3.2% 0.0%
Warberg Asset Management LLC $856,603 72K 3.1% ▼ 0.6%
Meteora Capital, LLC $831,204 64K 3.0% ▼ 28.1%
Crossingbridge Advisors, LLC $631,516 53K 2.3% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Black Hawk Acquisition Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Black Hawk Acquisition Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Black Hawk Acquisition Corp in brief

What does Black Hawk Acquisition Corp do?
Black Hawk Acquisition Corp is a US-listed company in the biotechnology industry. Its financial year ends in November.
What is Black Hawk Acquisition Corp's stock ticker?
Black Hawk Acquisition Corp trades under the ticker BKHA on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
Who are Black Hawk Acquisition Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Mizuho Securities Usa LLC, Wolverine Asset Management LLC and Berkley W R Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.