Pyrophyte Acquisition Corp. II (NYSE:PAII – Get Free Report) was the recipient of a significant growth in short interest in July. As of July 15th, there was short interest totaling 4,027 shares, a growth of 1,194.9% from the June 30th total of 311 shares. Based on an average daily volume of 38,748 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.
Institutional Trading of Pyrophyte Acquisition Corp. II
Hedge funds have recently made changes to their positions in the company. Wolverine Asset Management LLC acquired a new stake in shares of Pyrophyte Acquisition Corp. II during the 4th quarter worth approximately $88,000. ABC Arbitrage SA acquired a new position in Pyrophyte Acquisition Corp. II in the fourth quarter valued at approximately $252,000. Virtu Financial LLC acquired a new position in Pyrophyte Acquisition Corp. II in the fourth quarter valued at approximately $258,000. Lineage Point Capital LP acquired a new position in Pyrophyte Acquisition Corp. II in the fourth quarter valued at approximately $733,000. Finally, Sona Asset Management US LLC purchased a new position in Pyrophyte Acquisition Corp. II in the first quarter worth approximately $1,540,000.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Pyrophyte Acquisition Corp. II in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Pyrophyte Acquisition Corp. II currently has an average rating of “Sell”.
Pyrophyte Acquisition Corp. II Trading Up 0.0%
Shares of PAII stock traded up $0.01 on Friday, hitting $10.23. 20 shares of the stock traded hands, compared to its average volume of 27,327. The firm’s 50-day moving average price is $10.21 and its two-hundred day moving average price is $10.15. Pyrophyte Acquisition Corp. II has a twelve month low of $9.92 and a twelve month high of $10.25.
Pyrophyte Acquisition Corp. II (NYSE:PAII – Get Free Report) last released its quarterly earnings data on Friday, May 15th. The company reported $0.05 earnings per share (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.
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