Andretti Acquisition Corp. II (NASDAQ:POLE) Sees Large Increase in Short Interest

Andretti Acquisition Corp. II (NASDAQ:POLE) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 953 shares, a growth of 378.9% from the August 31st total of 199 shares. Based on an average daily trading volume, of 274,960 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s shares are short sold.

Institutional Trading of Andretti Acquisition Corp. II

Hedge funds and other institutional investors have recently modified their holdings of the business. Aristeia Capital L.L.C. bought a new position in Andretti Acquisition Corp. II in the 4th quarter worth about $2,617,000. Clear Street Group Inc. increased its stake in Andretti Acquisition Corp. II by 1,179.7% during the 4th quarter. Clear Street Group Inc. now owns 181,772 shares of the company’s stock valued at $1,910,000 after purchasing an additional 167,568 shares in the last quarter. L1 Global Manager Pty Ltd bought a new stake in Andretti Acquisition Corp. II during the 4th quarter valued at about $1,051,000. Berkley W R Corp raised its holdings in Andretti Acquisition Corp. II by 9.6% in the first quarter. Berkley W R Corp now owns 462,495 shares of the company’s stock worth $4,923,000 after buying an additional 40,683 shares during the last quarter. Finally, Lineage Point Capital LP purchased a new position in Andretti Acquisition Corp. II in the fourth quarter worth about $299,000.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Andretti Acquisition Corp. II in a report on Monday. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Andretti Acquisition Corp. II Price Performance

POLE stock traded down $0.01 during midday trading on Friday, hitting $10.72. The stock had a trading volume of 1,215 shares, compared to its average volume of 39,677. The business has a 50-day moving average of $10.79 and a two-hundred day moving average of $10.73. Andretti Acquisition Corp. II has a 52-week low of $10.46 and a 52-week high of $12.00.

Andretti Acquisition Corp. II Company Profile

Andretti Acquisition Corp. II (NASDAQ: POLE) is a special purpose acquisition company, or SPAC. The company was formed to identify and complete a business combination with one or more businesses, such as a merger, acquisition, stock purchase, or similar transaction.

As a SPAC, Andretti Acquisition Corp. II does not have significant ongoing operating activities, products, or services of its own. Its primary purpose is to raise capital through a public offering and use those funds, together with other financing, to acquire or combine with an operating company.

The company’s ultimate industry focus, geographic scope, and operating profile will depend on the target business it selects.