Galata Acquisition Corp. II (NASDAQ:LATA) Short Interest Update

Galata Acquisition Corp. II (NASDAQ:LATA) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 4,627 shares, a growth of 3,692.6% from the May 14th total of 122 shares. Based on an average daily trading volume, of 3,163 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.0% of the shares of the company are short sold.

Galata Acquisition Corp. II Stock Up 0.2%

Shares of Galata Acquisition Corp. II stock traded up $0.02 on Tuesday, hitting $10.10. The company’s stock had a trading volume of 25,137 shares, compared to its average volume of 59,685. Galata Acquisition Corp. II has a 1 year low of $9.91 and a 1 year high of $10.20. The firm’s fifty day moving average is $10.04.

Analyst Ratings Changes

Separately, Weiss Ratings initiated coverage on Galata Acquisition Corp. II in a research note on Tuesday, May 26th. They issued a “sell (e+)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Galata Acquisition Corp. II has an average rating of “Sell”.

Hedge Funds Weigh In On Galata Acquisition Corp. II

Several institutional investors and hedge funds have recently modified their holdings of LATA. Deltec Asset Management LLC purchased a new position in shares of Galata Acquisition Corp. II in the 4th quarter valued at about $149,000. Wolverine Asset Management LLC acquired a new stake in Galata Acquisition Corp. II in the 4th quarter worth about $322,000. ABC Arbitrage SA acquired a new stake in Galata Acquisition Corp. II in the 4th quarter worth about $199,000. Wealthspring Capital LLC acquired a new stake in Galata Acquisition Corp. II in the 4th quarter worth about $3,195,000. Finally, Condor Capital Management acquired a new stake in Galata Acquisition Corp. II in the 4th quarter worth about $140,000.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank?check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.