Pyrophyte Acquisition Corp. II (NYSE:PAII) Short Interest Up 418.3% in June

Pyrophyte Acquisition Corp. II (NYSE:PAII) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 311 shares, an increase of 418.3% from the June 15th total of 60 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 20,105 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of Pyrophyte Acquisition Corp. II

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sona Asset Management US LLC purchased a new position in Pyrophyte Acquisition Corp. II in the first quarter worth about $1,540,000. Lineage Point Capital LP bought a new stake in shares of Pyrophyte Acquisition Corp. II during the fourth quarter valued at approximately $733,000. Virtu Financial LLC purchased a new position in Pyrophyte Acquisition Corp. II in the 4th quarter worth approximately $258,000. Westchester Capital Management LLC bought a new position in Pyrophyte Acquisition Corp. II in the 4th quarter valued at approximately $2,515,000. Finally, Mercuria Capital Strategies LLC bought a new position in Pyrophyte Acquisition Corp. II in the 4th quarter valued at approximately $2,515,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Pyrophyte Acquisition Corp. II in a research note on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Pyrophyte Acquisition Corp. II Stock Up 0.5%

PAII stock traded up $0.06 on Monday, reaching $10.27. 369 shares of the company traded hands, compared to its average volume of 58,607. The firm has a fifty day simple moving average of $10.19 and a 200-day simple moving average of $10.12. Pyrophyte Acquisition Corp. II has a one year low of $9.92 and a one year high of $10.25.

Pyrophyte Acquisition Corp. II (NYSE:PAII) last released its earnings results on Friday, May 15th. The company reported $0.05 EPS for the quarter.

Pyrophyte Acquisition Corp. II Company Profile

FTAC Parnassus Acquisition II Ltd is a special purpose acquisition company (“SPAC”) formed as an exempted Cayman Islands company and listed on the New York Stock Exchange under the ticker PAII. Like other blank check companies, its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses. Since its initial public offering in early 2021, FTAC Parnassus Acquisition II has held its proceeds in trust pending the identification of a suitable target.

The company is sponsored by FTAC Management LLC in collaboration with Parnassus Investments, a San Francisco–based asset manager known for its long?term, sustainable?value approach.