Galata Acquisition Corp. II (NASDAQ:LATA) Issues Quarterly Earnings Results

Galata Acquisition Corp. II (NASDAQ:LATA) issued its quarterly earnings data on Wednesday. The company reported $0.07 EPS for the quarter, FiscalAI reports.

Galata Acquisition Corp. II Stock Performance

Shares of NASDAQ:LATA traded up $0.04 on Thursday, reaching $10.27. 20,011 shares of the company’s stock were exchanged, compared to its average volume of 14,709. Galata Acquisition Corp. II has a twelve month low of $9.91 and a twelve month high of $10.23. The company has a fifty day moving average of $10.21 and a 200-day moving average of $10.11.

Institutional Investors Weigh In On Galata Acquisition Corp. II

Several institutional investors have recently made changes to their positions in LATA. Alberta Investment Management Corp acquired a new stake in Galata Acquisition Corp. II during the third quarter worth approximately $7,388,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Galata Acquisition Corp. II in the first quarter valued at about $4,995,000. Rivernorth Capital Management LLC acquired a new position in Galata Acquisition Corp. II in the first quarter valued at about $2,997,000. Context Capital Management LLC bought a new stake in Galata Acquisition Corp. II during the third quarter worth about $2,040,000. Finally, Sona Asset Management US LLC bought a new stake in Galata Acquisition Corp. II during the first quarter worth about $1,411,000.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Galata Acquisition Corp. II from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Galata Acquisition Corp. II presently has a consensus rating of “Sell”.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II is a special purpose acquisition company (SPAC), formed to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more operating businesses. It does not conduct significant operating activities of its own while it searches for a suitable partner. The company has described its search as focused on businesses with growth potential, including opportunities in technology and related sectors. Its business-combination strategy may involve a company or companies in different industries or geographic markets.