Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) Sees Large Growth in Short Interest

Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 8,687 shares, a growth of 344.1% from the April 15th total of 1,956 shares. Based on an average daily volume of 502,613 shares, the days-to-cover ratio is currently 0.0 days.

Archimedes Tech SPAC Partners II Stock Performance

NASDAQ:ATII traded down $0.04 during trading hours on Thursday, hitting $10.81. The stock had a trading volume of 28,509 shares, compared to its average volume of 136,968. Archimedes Tech SPAC Partners II has a one year low of $10.06 and a one year high of $10.90. The firm has a 50 day moving average price of $10.52.

Archimedes Tech SPAC Partners II (NASDAQ:ATII) last announced its quarterly earnings results on Wednesday, March 4th. The company reported $0.07 earnings per share for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Meteora Capital LLC raised its position in shares of Archimedes Tech SPAC Partners II by 10.5% during the fourth quarter. Meteora Capital LLC now owns 718,433 shares of the company’s stock worth $7,443,000 after purchasing an additional 68,533 shares during the period. Westchester Capital Management LLC grew its position in shares of Archimedes Tech SPAC Partners II by 0.8% in the 4th quarter. Westchester Capital Management LLC now owns 907,144 shares of the company’s stock valued at $9,398,000 after purchasing an additional 7,144 shares during the period. Rivernorth Capital Management LLC increased its stake in Archimedes Tech SPAC Partners II by 25.2% during the 4th quarter. Rivernorth Capital Management LLC now owns 447,750 shares of the company’s stock worth $4,639,000 after purchasing an additional 90,000 shares in the last quarter. Millennium Management LLC increased its stake in Archimedes Tech SPAC Partners II by 1.3% during the 4th quarter. Millennium Management LLC now owns 307,985 shares of the company’s stock worth $3,191,000 after purchasing an additional 4,020 shares in the last quarter. Finally, Governors Lane LP raised its holdings in Archimedes Tech SPAC Partners II by 1.1% during the 4th quarter. Governors Lane LP now owns 758,617 shares of the company’s stock worth $7,859,000 after buying an additional 8,617 shares during the period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Archimedes Tech SPAC Partners II from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Archimedes Tech SPAC Partners II Company Profile

Archimedes Tech SPAC Partners II (NASDAQ: ATII) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank?check vehicle, its primary business purpose is to identify, evaluate and complete a business combination, merger, acquisition or other similar transaction that will result in a publicly traded operating company. The company itself does not conduct an independent operating business prior to completing a qualifying transaction.

Like other SPACs, Archimedes Tech SPAC Partners II raises capital through an initial public offering and places the proceeds in a trust account while it pursues potential targets.