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

Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) was the recipient of a large growth in short interest in 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 days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

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

Archimedes Tech SPAC Partners II Trading Up 0.2%

Shares of ATII opened at $11.22 on Friday. Archimedes Tech SPAC Partners II has a 52-week low of $10.11 and a 52-week high of $11.40. The firm has a 50 day simple moving average of $10.69.

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

Institutional Investors Weigh In On Archimedes Tech SPAC Partners II

Several hedge funds have recently made changes to their positions in the company. StoneX Group Inc. purchased a new position in Archimedes Tech SPAC Partners II during the 4th quarter worth approximately $524,000. L1 Global Manager Pty Ltd purchased a new stake in shares of Archimedes Tech SPAC Partners II in the fourth quarter valued at $2,072,000. Westchester Capital Management LLC lifted its holdings in shares of Archimedes Tech SPAC Partners II by 0.8% in the fourth quarter. Westchester Capital Management LLC now owns 907,144 shares of the company’s stock valued at $9,398,000 after purchasing an additional 7,144 shares in the last quarter. Radcliffe Capital Management L.P. boosted its position in shares of Archimedes Tech SPAC Partners II by 7.7% in the fourth quarter. Radcliffe Capital Management L.P. now owns 658,322 shares of the company’s stock worth $6,820,000 after buying an additional 46,800 shares during the period. Finally, Meteora Capital LLC grew its holdings in shares of Archimedes Tech SPAC Partners II by 10.5% during the fourth quarter. Meteora Capital LLC now owns 718,433 shares of the company’s stock valued at $7,443,000 after buying an additional 68,533 shares in the last 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.