L1 Global Manager Pty Ltd Invests $1.05 Million in Andretti Acquisition Corp. II $POLE

L1 Global Manager Pty Ltd bought a new position in shares of Andretti Acquisition Corp. II (NASDAQ:POLE) during the fourth quarter, HoldingsChannel reports. The fund bought 100,000 shares of the company’s stock, valued at approximately $1,051,000.

A number of other hedge funds have also modified their holdings of POLE. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in shares of Andretti Acquisition Corp. II during the second quarter worth approximately $7,785,000. Radcliffe Capital Management L.P. grew its position in shares of Andretti Acquisition Corp. II by 107.5% during the third quarter. Radcliffe Capital Management L.P. now owns 477,001 shares of the company’s stock worth $4,989,000 after acquiring an additional 247,159 shares during the last quarter. Whitebox Advisors LLC purchased a new position in shares of Andretti Acquisition Corp. II during the second quarter worth approximately $2,076,000. Jain Global LLC grew its position in shares of Andretti Acquisition Corp. II by 282.1% during the third quarter. Jain Global LLC now owns 225,825 shares of the company’s stock worth $2,364,000 after acquiring an additional 166,719 shares during the last quarter. Finally, Sandia Investment Management LP purchased a new position in shares of Andretti Acquisition Corp. II during the second quarter worth approximately $415,000.

Andretti Acquisition Corp. II Price Performance

NASDAQ:POLE opened at $10.74 on Friday. The firm’s fifty day simple moving average is $10.70 and its 200-day simple moving average is $10.62. Andretti Acquisition Corp. II has a fifty-two week low of $10.36 and a fifty-two week high of $10.90.

Andretti Acquisition Corp. II (NASDAQ:POLE) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Andretti Acquisition Corp. II in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Andretti Acquisition Corp. II currently has a consensus rating of “Sell”.

Andretti Acquisition Corp. II Profile

Andretti Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering for the purpose of effecting a business combination. The company has no commercial operations of its own but seeks to merge with or acquire a private business with a focus on advanced mobility, high-performance automotive technologies, or related sectors. By leveraging the Andretti brand, it aims to align with firms operating at the intersection of motorsports and cutting-edge vehicle innovation.

The SPAC structure allows Andretti Acquisition Corp.