Galata Acquisition Corp. II (NASDAQ:LATA) Shares Up 0.1% – Still a Buy?

Galata Acquisition Corp. II (NASDAQ:LATA) shares shot up 0.1% on Thursday . The stock traded as high as $10.15 and last traded at $10.15. Approximately 1,055 shares changed hands during trading, a decline of 48% from the average daily volume of 2,011 shares. The stock had previously closed at $10.14.

Analysts Set New Price Targets

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

Galata Acquisition Corp. II Stock Performance

The stock’s 50 day moving average is $10.12 and its two-hundred day moving average is $10.07.

Galata Acquisition Corp. II (NASDAQ:LATA) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 EPS for the quarter.

Institutional Trading of Galata Acquisition Corp. II

A number of institutional investors have recently bought and sold shares of LATA. Rivernorth Capital Management LLC acquired a new position in shares of Galata Acquisition Corp. II during the 1st quarter worth about $2,997,000. Sona Asset Management US LLC purchased a new stake in Galata Acquisition Corp. II during the first quarter worth approximately $1,411,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Galata Acquisition Corp. II in the first quarter valued at approximately $4,995,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Galata Acquisition Corp. II in the fourth quarter valued at approximately $1,245,000. Finally, Lineage Point Capital LP acquired a new stake in Galata Acquisition Corp. II during the fourth quarter worth approximately $746,000.

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.