Galata Acquisition Corp. II (NASDAQ:LATA) Short Interest Up 3,692.6% in May

Galata Acquisition Corp. II (NASDAQ:LATA) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 4,627 shares, an increase of 3,692.6% from the May 14th total of 122 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 3,163 shares, the days-to-cover ratio is presently 1.5 days.

Galata Acquisition Corp. II Stock Performance

NASDAQ LATA remained flat at $10.10 on Wednesday. The company’s stock had a trading volume of 25,137 shares, compared to its average volume of 1,689. The firm’s 50-day moving average price is $10.04. Galata Acquisition Corp. II has a 52-week low of $9.91 and a 52-week high of $10.20.

Institutional Trading of Galata Acquisition Corp. II

A number of hedge funds have recently made changes to their positions in LATA. Adage Capital Partners GP L.L.C. acquired a new position in Galata Acquisition Corp. II during the 4th quarter worth $13,446,000. Picton Mahoney Asset Management acquired a new position in shares of Galata Acquisition Corp. II in the 4th quarter worth approximately $9,960,000. Alberta Investment Management Corp bought a new stake in shares of Galata Acquisition Corp. II in the 4th quarter valued at approximately $7,221,000. AQR Arbitrage LLC bought a new stake in shares of Galata Acquisition Corp. II in the 4th quarter valued at approximately $6,747,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in shares of Galata Acquisition Corp. II during the 4th quarter valued at approximately $5,976,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings started coverage on Galata Acquisition Corp. II in a report on Tuesday, May 26th. They set a “sell (e+)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Galata Acquisition Corp. II has an average rating of “Sell”.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank‑check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.