Armada Acquisition Corp. II (NASDAQ:XRPN) Sees Significant Growth in Short Interest

Armada Acquisition Corp. II (NASDAQ:XRPN) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 1,926,428 shares, an increase of 462.3% from the September 30th total of 342,627 shares. Currently, 6.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,847,037 shares, the short-interest ratio is currently 0.7 days.

Armada Acquisition Corp. II Trading Up 1.8%

Shares of NASDAQ XRPN opened at $15.27 on Wednesday. Armada Acquisition Corp. II has a 12-month low of $10.10 and a 12-month high of $53.00. The business’s fifty day simple moving average is $14.18 and its 200-day simple moving average is $11.38.

Armada Acquisition Corp. II (NASDAQ:XRPN) last released its earnings results on Thursday, August 13th. The company reported $0.05 EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Armada Acquisition Corp. II in a report on Monday, September 28th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Armada Acquisition Corp. II has a consensus rating of “Sell”.

About Armada Acquisition Corp. II

Armada Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to identify and combine with one or more businesses through a merger, share exchange, asset acquisition, or similar transaction. Unlike an operating company, it does not manufacture products or provide commercial services of its own.

The company’s activities are focused primarily on evaluating potential acquisition targets, negotiating a business combination, and completing related financing and regulatory requirements.