Armada Acquisition Corp. II (NASDAQ:XRPN) Sees Large Growth in Short Interest

Armada Acquisition Corp. II (NASDAQ:XRPN) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 97,792 shares, a growth of 70.4% from the April 30th total of 57,398 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 52,715 shares, the days-to-cover ratio is currently 1.9 days.

Armada Acquisition Corp. II Stock Up 0.1%

Shares of Armada Acquisition Corp. II stock traded up $0.01 during trading hours on Wednesday, hitting $10.43. The company’s stock had a trading volume of 10,340 shares, compared to its average volume of 89,827. Armada Acquisition Corp. II has a twelve month low of $10.00 and a twelve month high of $10.91. The company’s fifty day simple moving average is $10.36.

Armada Acquisition Corp. II (NASDAQ:XRPN) last released its earnings results on Wednesday, May 13th. The company reported $0.04 earnings per share for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Armada Acquisition Corp. II in a research note on Friday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Armada Acquisition Corp. II has a consensus rating of “Sell”.

Hedge Funds Weigh In On Armada Acquisition Corp. II

Several large investors have recently bought and sold shares of the business. Huntington National Bank acquired a new position in shares of Armada Acquisition Corp. II during the 4th quarter worth about $26,000. HRT Financial LP purchased a new stake in Armada Acquisition Corp. II during the fourth quarter worth approximately $112,000. Geode Capital Management LLC acquired a new position in Armada Acquisition Corp. II in the fourth quarter valued at approximately $155,000. Virtu Financial LLC purchased a new position in Armada Acquisition Corp. II in the fourth quarter valued at approximately $283,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Armada Acquisition Corp. II in the fourth quarter valued at approximately $513,000. Hedge funds and other institutional investors own 27.95% of the company’s stock.

About Armada Acquisition Corp. II

Armada Acquisition Corp. II (NASDAQ: XRPN) is a special purpose acquisition company (SPAC), commonly known as a blank?check company, formed to raise capital through an initial public offering for the purpose of effecting a business combination. As a SPAC, the company does not operate an active commercial business; instead, its primary activity is identifying, negotiating and completing a merger, share exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more target companies.

Following its public listing, Armada Acquisition Corp.