Armada Acquisition Corp. II (NASDAQ:XRPN) Short Interest Up 67.1% in August

Armada Acquisition Corp. II (NASDAQ:XRPN – Get Free Report) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 60,199 shares, a growth of 67.1% from the August 15th total of 36,034 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 40,899 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analyst Weigh In

A number of research analysts recently commented on XRPN shares. Weiss Ratings upgraded Armada Acquisition Corp. II from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded Armada Acquisition Corp. II to a “hold” rating in a research note on Saturday, June 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

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Hedge Funds Weigh In On Armada Acquisition Corp. II

A number of institutional investors and hedge funds have recently bought and sold shares of XRPN. Arrington Capital Management LLC bought a new stake in shares of Armada Acquisition Corp. II during the 4th quarter worth about $59,351,000. Aristeia Capital L.L.C. bought a new position in shares of Armada Acquisition Corp. II in the fourth quarter valued at approximately $5,120,000. Radcliffe Capital Management L.P. acquired a new position in shares of Armada Acquisition Corp. II during the fourth quarter valued at approximately $4,780,000. Magnetar Financial LLC acquired a new position in shares of Armada Acquisition Corp. II during the fourth quarter valued at approximately $8,338,000. Finally, Sculptor Capital LP bought a new stake in Armada Acquisition Corp. II during the fourth quarter worth approximately $2,560,000. Institutional investors own 27.95% of the company’s stock.

Armada Acquisition Corp. II Stock Performance

XRPN opened at $10.53 on Thursday. The stock’s 50 day moving average price is $10.49 and its 200 day moving average price is $10.41. Armada Acquisition Corp. II has a 12 month low of $10.10 and a 12 month high of $10.91.

Armada Acquisition Corp. II Company Profile

(Get Free Report)

Armada Acquisition Corp. II (NASDAQ: XRPN) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. Its activities are focused on evaluating potential merger, acquisition, or similar transactions rather than providing products or services directly to consumers.

Until it completes a business combination, Armada Acquisition Corp. II does not have an established operating business, product portfolio, or defined geographic customer base.

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