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

Armada Acquisition Corp. II (NASDAQ:XRPN) saw a large growth in short interest in August. As of August 31st, there was short interest totaling 60,199 shares, a growth of 67.1% from the August 15th total of 36,034 shares. Based on an average daily trading volume, of 40,899 shares, the short-interest ratio is presently 1.5 days. Approximately 0.2% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

XRPN has been the subject of several research reports. Weiss Ratings raised Armada Acquisition Corp. II from a “sell (d-)” rating to a “sell (d)” rating in a research note on Wednesday, July 1st. Wall Street Zen raised shares of Armada Acquisition Corp. II to a “hold” rating in a report on Saturday, June 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Armada Acquisition Corp. II

A number of hedge funds have recently modified their holdings of the stock. Sculptor Capital LP purchased a new stake in shares of Armada Acquisition Corp. II during the fourth quarter valued at $2,560,000. Context Capital Management LLC purchased a new position in Armada Acquisition Corp. II in the 4th quarter worth about $3,584,000. Mint Tower Capital Management B.V. purchased a new position in Armada Acquisition Corp. II in the 4th quarter worth about $2,560,000. Aristeia Capital L.L.C. acquired a new stake in Armada Acquisition Corp. II during the 4th quarter worth about $5,120,000. Finally, Arrington Capital Management LLC purchased a new stake in Armada Acquisition Corp. II during the fourth quarter valued at about $59,351,000. 27.95% of the stock is currently owned by institutional investors and hedge funds.

Armada Acquisition Corp. II Stock Performance

Armada Acquisition Corp. II stock opened at $10.53 on Thursday. Armada Acquisition Corp. II has a 1 year low of $10.10 and a 1 year high of $10.91. The firm’s 50 day moving average price is $10.49 and its two-hundred day moving average price is $10.41.

Armada Acquisition Corp. II Company Profile

Armada Acquisition Corp. II (NASDAQ: XRPN) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. Its activities are focused on evaluating potential merger, acquisition, or similar transactions rather than providing products or services directly to consumers.

Until it completes a business combination, Armada Acquisition Corp. II does not have an established operating business, product portfolio, or defined geographic customer base.