Galata Acquisition Corp. II (NASDAQ:LATA) Releases Earnings Results

Galata Acquisition Corp. II (NASDAQ:LATA) announced its earnings results on Wednesday. The company reported $0.06 earnings per share for the quarter, FiscalAI reports.

Galata Acquisition Corp. II Trading Down 0.1%

LATA traded down $0.01 during trading on Thursday, hitting $10.14. The company’s stock had a trading volume of 17,917 shares, compared to its average volume of 2,296. Galata Acquisition Corp. II has a one year low of $9.91 and a one year high of $10.20. The stock has a 50 day moving average price of $10.11.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Condor Capital Management bought a new stake in Galata Acquisition Corp. II during the fourth quarter worth approximately $140,000. Deltec Asset Management LLC bought a new position in shares of Galata Acquisition Corp. II during the fourth quarter valued at approximately $149,000. ABC Arbitrage SA purchased a new position in Galata Acquisition Corp. II in the fourth quarter valued at about $199,000. Royal Bank of Canada acquired a new position in shares of Galata Acquisition Corp. II during the fourth quarter worth $225,000. Finally, Virtu Financial LLC acquired a new stake in shares of Galata Acquisition Corp. II during the fourth quarter worth about $320,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings initiated coverage on shares of Galata Acquisition Corp. II in a report on Tuesday, May 26th. They set a “sell (e+)” rating on the stock. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank‑check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.