Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) Sees Significant Growth in Short Interest

Archimedes Tech SPAC Partners II Co. (NASDAQ:ATIIGet Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 54,969 shares, an increase of 532.8% from the April 30th total of 8,687 shares. Based on an average daily trading volume, of 279,427 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Archimedes Tech SPAC Partners II from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Check Out Our Latest Stock Analysis on Archimedes Tech SPAC Partners II

Archimedes Tech SPAC Partners II Stock Down 0.6%

NASDAQ:ATII opened at $11.26 on Thursday. Archimedes Tech SPAC Partners II has a twelve month low of $10.09 and a twelve month high of $11.40. The company’s 50-day simple moving average is $10.66.

Archimedes Tech SPAC Partners II (NASDAQ:ATIIGet Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.06 earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ATII. L1 Global Manager Pty Ltd purchased a new stake in shares of Archimedes Tech SPAC Partners II in the fourth quarter worth about $2,072,000. Rivernorth Capital Management LLC grew its position in Archimedes Tech SPAC Partners II by 25.2% in the fourth quarter. Rivernorth Capital Management LLC now owns 447,750 shares of the company’s stock valued at $4,639,000 after acquiring an additional 90,000 shares in the last quarter. Meteora Capital LLC raised its stake in shares of Archimedes Tech SPAC Partners II by 10.5% during the fourth quarter. Meteora Capital LLC now owns 718,433 shares of the company’s stock valued at $7,443,000 after purchasing an additional 68,533 shares during the period. StoneX Group Inc. purchased a new stake in shares of Archimedes Tech SPAC Partners II during the fourth quarter valued at approximately $524,000. Finally, Radcliffe Capital Management L.P. lifted its position in shares of Archimedes Tech SPAC Partners II by 7.7% during the fourth quarter. Radcliffe Capital Management L.P. now owns 658,322 shares of the company’s stock worth $6,820,000 after purchasing an additional 46,800 shares in the last quarter.

Archimedes Tech SPAC Partners II Company Profile

(Get Free Report)

Archimedes Tech SPAC Partners II (NASDAQ: ATII) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank‑check vehicle, its primary business purpose is to identify, evaluate and complete a business combination, merger, acquisition or other similar transaction that will result in a publicly traded operating company. The company itself does not conduct an independent operating business prior to completing a qualifying transaction.

Like other SPACs, Archimedes Tech SPAC Partners II raises capital through an initial public offering and places the proceeds in a trust account while it pursues potential targets.

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