Galata Acquisition Corp. II (NASDAQ:LATA) Sees Significant Drop in Short Interest

Galata Acquisition Corp. II (NASDAQ:LATA) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 30 shares, a decrease of 40.0% from the September 15th total of 50 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 38,889 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Trading of Galata Acquisition Corp. II

A number of hedge funds have recently bought and sold shares of LATA. Lineage Point Capital LP acquired a new position in Galata Acquisition Corp. II in the 4th quarter valued at $746,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Galata Acquisition Corp. II during the fourth quarter worth $1,245,000. Sona Asset Management US LLC acquired a new stake in shares of Galata Acquisition Corp. II during the first quarter worth $1,411,000. Mangrove Partners IM LLC purchased a new stake in shares of Galata Acquisition Corp. II in the fourth quarter valued at $2,206,000. Finally, Rivernorth Capital Management LLC purchased a new stake in shares of Galata Acquisition Corp. II in the first quarter valued at $2,997,000.

Wall Street Analyst Weigh In

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

Galata Acquisition Corp. II Trading Down 0.1%

LATA stock traded down $0.01 during trading on Friday, hitting $10.21. The stock had a trading volume of 20,006 shares, compared to its average volume of 33,596. The company’s 50 day moving average price is $10.19 and its two-hundred day moving average price is $10.12. Galata Acquisition Corp. II has a 1-year low of $9.91 and a 1-year high of $10.22.

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

About Galata Acquisition Corp. II

Galata Acquisition Corp. II (NASDAQ:LATA) is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating companies. The company does not have significant ongoing commercial operations, products or services of its own.

Its principal objective is to raise capital and use the proceeds, together with other available funding, to acquire, merge with or otherwise combine with a target business. Until a transaction is completed, Galata Acquisition Corp.