Armada Acquisition Corp. II (NASDAQ:XRPN) Stock Short Interest Climbs 462.3%

Armada Acquisition Corp. II (NASDAQ:XRPN) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 1,926,428 shares, a growth of 462.3% from the September 30th total of 342,627 shares. Based on an average daily volume of 2,847,037 shares, the short-interest ratio is currently 0.7 days. Currently, 6.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Armada Acquisition Corp. II in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Armada Acquisition Corp. II Stock Performance

XRPN opened at $15.00 on Tuesday. The business has a fifty day moving average of $13.99 and a 200 day moving average of $11.34. Armada Acquisition Corp. II has a 52-week low of $10.10 and a 52-week high of $53.00.

Armada Acquisition Corp. II (NASDAQ:XRPN) last released its earnings results on Thursday, August 13th. The company reported $0.05 earnings per share for the quarter.

About Armada Acquisition Corp. II

Armada Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to identify and combine with one or more businesses through a merger, share exchange, asset acquisition, or similar transaction. Unlike an operating company, it does not manufacture products or provide commercial services of its own.

The company’s activities are focused primarily on evaluating potential acquisition targets, negotiating a business combination, and completing related financing and regulatory requirements.