Andretti Acquisition Corp. II (NASDAQ:POLE – Get Free Report) fell 0.1% during mid-day trading on Friday. The company traded as low as $10.71 and last traded at $10.72. 7,169 shares traded hands during mid-day trading, an increase of 536% from the average session volume of 1,127 shares. The stock had previously closed at $10.73.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Andretti Acquisition Corp. II in a research report on Monday, September 21st. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Andretti Acquisition Corp. II has a consensus rating of “Sell”.
Get Our Latest Stock Analysis on Andretti Acquisition Corp. II
Andretti Acquisition Corp. II Stock Performance
The company has a 50-day moving average of $10.77 and a 200-day moving average of $10.74.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Berkley W R Corp lifted its position in Andretti Acquisition Corp. II by 9.6% during the first quarter. Berkley W R Corp now owns 462,495 shares of the company’s stock valued at $4,923,000 after purchasing an additional 40,683 shares during the period. Lineage Point Capital LP acquired a new stake in Andretti Acquisition Corp. II during the fourth quarter valued at $299,000. Finally, Aristeia Capital L.L.C. acquired a new stake in shares of Andretti Acquisition Corp. II during the 4th quarter valued at about $2,617,000.
About Andretti Acquisition Corp. II
Andretti Acquisition Corp. II is a special purpose acquisition company (SPAC) listed on the Nasdaq Stock Market under the symbol POLE. The company was formed to pursue a business combination with one or more operating companies through a merger, acquisition, stock purchase, or similar transaction.
As a blank-check company, Andretti Acquisition Corp. II does not have significant operating activities, products, or services of its own. Its primary activities involve raising capital through an initial public offering and evaluating potential acquisition targets.
The company has indicated an interest in opportunities connected with the automotive, transportation, mobility, and related sectors, although its ultimate target and geographic focus depend on any future business combination.
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