Pyrophyte Acquisition Corp. II (NYSE:PAII – Get Free Report) fell 0% on Wednesday. The stock traded as low as $10.29 and last traded at $10.2950. Approximately 30,061 shares changed hands during trading, a decline of 58% from the average daily volume of 71,802 shares. The stock had previously closed at $10.30.
Analysts Set New Price Targets
Separately, Weiss Ratings raised Pyrophyte Acquisition Corp. II from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Pyrophyte Acquisition Corp. II currently has a consensus rating of “Sell”.
View Our Latest Research Report on PAII
Pyrophyte Acquisition Corp. II Trading Down 0.0%
Pyrophyte Acquisition Corp. II (NYSE:PAII – Get Free Report) last released its earnings results on Friday, August 14th. The company reported $0.05 EPS for the quarter.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Sona Asset Management US LLC acquired a new position in shares of Pyrophyte Acquisition Corp. II in the first quarter valued at approximately $1,540,000. Lineage Point Capital LP bought a new stake in Pyrophyte Acquisition Corp. II in the fourth quarter worth approximately $733,000. Finally, Mercuria Capital Strategies LLC bought a new stake in shares of Pyrophyte Acquisition Corp. II in the 4th quarter valued at $2,515,000.
About Pyrophyte Acquisition Corp. II
Pyrophyte Acquisition Corp. II is a special purpose acquisition company (SPAC) incorporated to identify and complete a business combination with one or more operating companies. The transaction could take the form of a merger, share exchange, asset acquisition, reorganization, or similar corporate combination.
As a blank-check company, Pyrophyte Acquisition Corp. II does not conduct significant operating activities or offer products and services of its own. Its primary activities involve evaluating potential acquisition targets, negotiating a transaction, and seeking shareholder approval for a proposed business combination.
The company was formed as a newly organized acquisition vehicle and has not publicly identified a completed operating business.
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