Mercuria Capital Strategies LLC bought a new stake in Pyrophyte Acquisition Corp. II (NYSE:PAII – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 250,000 shares of the company’s stock, valued at approximately $2,515,000. Pyrophyte Acquisition Corp. II makes up about 2.1% of Mercuria Capital Strategies LLC’s portfolio, making the stock its 18th largest holding.
Several other hedge funds and other institutional investors have also made changes to their positions in PAII. Two Sigma Investments LP purchased a new stake in shares of Pyrophyte Acquisition Corp. II in the third quarter valued at about $6,816,000. First Trust Capital Management L.P. purchased a new stake in shares of Pyrophyte Acquisition Corp. II in the third quarter valued at about $2,490,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Pyrophyte Acquisition Corp. II in the third quarter valued at about $726,000. ABC Arbitrage SA purchased a new stake in shares of Pyrophyte Acquisition Corp. II in the fourth quarter valued at about $252,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Pyrophyte Acquisition Corp. II in the fourth quarter valued at about $88,000.
Pyrophyte Acquisition Corp. II Stock Performance
Shares of NYSE PAII opened at $10.20 on Friday. Pyrophyte Acquisition Corp. II has a 52 week low of $9.92 and a 52 week high of $10.22. The firm has a 50-day moving average price of $10.16 and a 200 day moving average price of $10.10.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Pyrophyte Acquisition Corp. II in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Pyrophyte Acquisition Corp. II presently has a consensus rating of “Sell”.
Read Our Latest Research Report on PAII
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.
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