Galata Acquisition Corp. II (NASDAQ:LATA) Shares Shorted: Short Interest Down 66.9% in September

Galata Acquisition Corp. II (NASDAQ:LATA) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 50 shares, a decrease of 66.9% from the August 31st total of 151 shares. Based on an average trading volume of 3,553 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Galata Acquisition Corp. II from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Galata Acquisition Corp. II

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alberta Investment Management Corp purchased a new position in shares of Galata Acquisition Corp. II during the fourth quarter worth approximately $7,221,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Galata Acquisition Corp. II in the 1st quarter valued at $4,995,000. Periscope Capital Inc. acquired a new stake in Galata Acquisition Corp. II during the 4th quarter worth $4,125,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Galata Acquisition Corp. II in the fourth quarter valued at about $3,976,000. Finally, Radcliffe Capital Management L.P. purchased a new stake in shares of Galata Acquisition Corp. II in the fourth quarter valued at about $3,479,000.

Galata Acquisition Corp. II Stock Performance

NASDAQ LATA traded up $0.01 during trading hours on Friday, hitting $10.20. The company had a trading volume of 89,814 shares, compared to its average volume of 17,669. The business has a 50 day moving average of $10.16 and a 200-day moving average of $10.09. Galata Acquisition Corp. II has a 1-year low of $9.91 and a 1-year high of $10.21.

Galata Acquisition Corp. II (NASDAQ:LATA) last posted its earnings results on Wednesday, August 12th. The company reported $0.06 EPS for the quarter.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II is a special purpose acquisition company, or SPAC, incorporated in the Cayman Islands and listed on the Nasdaq under the symbol LATA. The company was formed to pursue a business combination with one or more operating businesses.

Rather than offering products or services, Galata Acquisition Corp. II evaluates potential merger, share exchange, asset acquisition, share purchase, reorganization, or similar transactions. The company has not identified a specific target business, and its activities are primarily focused on finding and completing a suitable transaction.

As a SPAC, Galata Acquisition Corp.