Short Interest in Galata Acquisition Corp. II (NASDAQ:LATA) Drops By 96.2%

Galata Acquisition Corp. II (NASDAQ:LATA) was the recipient of a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 177 shares, a drop of 96.2% from the May 31st total of 4,627 shares. Based on an average daily volume of 2,705 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings began coverage on shares of Galata Acquisition Corp. II in a report on Tuesday, May 26th. They issued a “sell (e+)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Galata Acquisition Corp. II

Several institutional investors have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Galata Acquisition Corp. II during the 4th quarter worth about $3,976,000. Periscope Capital Inc. acquired a new position in Galata Acquisition Corp. II in the 4th quarter worth about $4,125,000. Lineage Point Capital LP acquired a new stake in Galata Acquisition Corp. II in the fourth quarter valued at approximately $746,000. Context Capital Management LLC purchased a new stake in shares of Galata Acquisition Corp. II in the fourth quarter valued at approximately $1,988,000. Finally, Wealthspring Capital LLC acquired a new position in shares of Galata Acquisition Corp. II during the 4th quarter worth approximately $3,195,000.

Galata Acquisition Corp. II Stock Up 0.1%

Galata Acquisition Corp. II stock traded up $0.01 during midday trading on Thursday, hitting $10.10. 9,068 shares of the company were exchanged, compared to its average volume of 37,262. The stock’s fifty day simple moving average is $10.07. Galata Acquisition Corp. II has a fifty-two week low of $9.91 and a fifty-two week high of $10.20.

Galata Acquisition Corp. II Company Profile

Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank?check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.