Short Interest in Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) Rises By 532.8%

Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 54,969 shares, a growth of 532.8% from the April 30th total of 8,687 shares. Based on an average daily trading volume, of 279,427 shares, the short-interest ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Archimedes Tech SPAC Partners II from a “sell (d-)” rating to a “sell (d)” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Archimedes Tech SPAC Partners II

A number of institutional investors have recently added to or reduced their stakes in ATII. L1 Global Manager Pty Ltd bought a new position in Archimedes Tech SPAC Partners II during the 4th quarter valued at $2,072,000. Rivernorth Capital Management LLC raised its stake in shares of Archimedes Tech SPAC Partners II by 25.2% in the 4th quarter. Rivernorth Capital Management LLC now owns 447,750 shares of the company’s stock worth $4,639,000 after buying an additional 90,000 shares in the last quarter. Meteora Capital LLC raised its stake in shares of Archimedes Tech SPAC Partners II by 10.5% in the 4th quarter. Meteora Capital LLC now owns 718,433 shares of the company’s stock worth $7,443,000 after buying an additional 68,533 shares in the last quarter. StoneX Group Inc. acquired a new stake in shares of Archimedes Tech SPAC Partners II in the fourth quarter valued at $524,000. Finally, Radcliffe Capital Management L.P. boosted its stake in Archimedes Tech SPAC Partners II by 7.7% during the fourth quarter. Radcliffe Capital Management L.P. now owns 658,322 shares of the company’s stock valued at $6,820,000 after buying an additional 46,800 shares in the last quarter.

Archimedes Tech SPAC Partners II Trading Down 0.6%

Shares of ATII stock opened at $11.26 on Thursday. Archimedes Tech SPAC Partners II has a one year low of $10.09 and a one year high of $11.40. The stock’s 50-day moving average is $10.66.

Archimedes Tech SPAC Partners II (NASDAQ:ATII) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.06 earnings per share for the quarter.

Archimedes Tech SPAC Partners II Company Profile

Archimedes Tech SPAC Partners II (NASDAQ: ATII) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank‑check vehicle, its primary business purpose is to identify, evaluate and complete a business combination, merger, acquisition or other similar transaction that will result in a publicly traded operating company. The company itself does not conduct an independent operating business prior to completing a qualifying transaction.

Like other SPACs, Archimedes Tech SPAC Partners II raises capital through an initial public offering and places the proceeds in a trust account while it pursues potential targets.