Archimedes Tech SPAC Partners II (NASDAQ:ATII) Releases Quarterly Earnings Results

Archimedes Tech SPAC Partners II (NASDAQ:ATII) posted its quarterly earnings data on Thursday. The company reported $0.06 earnings per share for the quarter, FiscalAI reports.

Archimedes Tech SPAC Partners II Stock Up 0.3%

NASDAQ ATII traded up $0.03 on Friday, hitting $10.93. 781,719 shares of the company were exchanged, compared to its average volume of 147,516. Archimedes Tech SPAC Partners II has a 12 month low of $10.06 and a 12 month high of $11.08. The stock’s fifty day moving average is $10.54.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Archimedes Tech SPAC Partners II from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. StoneX Group Inc. bought a new position in shares of Archimedes Tech SPAC Partners II in the fourth quarter valued at $524,000. L1 Global Manager Pty Ltd bought a new position in shares of Archimedes Tech SPAC Partners II in the fourth quarter valued at $2,072,000. Westchester Capital Management LLC lifted its stake in shares of Archimedes Tech SPAC Partners II by 0.8% in the fourth quarter. Westchester Capital Management LLC now owns 907,144 shares of the company’s stock valued at $9,398,000 after buying an additional 7,144 shares in the last quarter. Radcliffe Capital Management L.P. lifted its stake in shares of Archimedes Tech SPAC Partners II by 7.7% in the fourth quarter. Radcliffe Capital Management L.P. now owns 658,322 shares of the company’s stock valued at $6,820,000 after buying an additional 46,800 shares in the last quarter. Finally, Meteora Capital LLC lifted its stake in shares of Archimedes Tech SPAC Partners II by 10.5% in the fourth quarter. Meteora Capital LLC now owns 718,433 shares of the company’s stock valued at $7,443,000 after buying an additional 68,533 shares in the last quarter.

Archimedes Tech SPAC Partners II Company Profile

Archimedes Tech SPAC Partners II (NASDAQ: ATII) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank?check vehicle, its primary business purpose is to identify, evaluate and complete a business combination, merger, acquisition or other similar transaction that will result in a publicly traded operating company. The company itself does not conduct an independent operating business prior to completing a qualifying transaction.

Like other SPACs, Archimedes Tech SPAC Partners II raises capital through an initial public offering and places the proceeds in a trust account while it pursues potential targets.