Armada Acquisition Corp. II (NASDAQ:XRPN) Shares Shorted: Short Interest Up 400.0% in September

Armada Acquisition Corp. II (NASDAQ:XRPN) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 342,627 shares, an increase of 400.0% from the September 15th total of 68,519 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 879,816 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on XRPN. Weiss Ratings reissued a “sell (d)” rating on shares of Armada Acquisition Corp. II in a report on Monday, September 28th. Wall Street Zen raised shares of Armada Acquisition Corp. II to a “hold” rating in a research report on Saturday, June 27th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has an average rating of “Sell”.

Armada Acquisition Corp. II Price Performance

NASDAQ:XRPN opened at $17.09 on Friday. The business has a fifty day moving average of $12.96 and a 200-day moving average of $11.29. Armada Acquisition Corp. II has a 1 year low of $10.10 and a 1 year high of $53.00.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Arrington Capital Management LLC purchased a new stake in Armada Acquisition Corp. II during the fourth quarter valued at about $59,351,000. Magnetar Financial LLC bought a new stake in Armada Acquisition Corp. II in the fourth quarter worth $8,338,000. Aristeia Capital L.L.C. acquired a new position in shares of Armada Acquisition Corp. II during the 4th quarter valued at about $5,120,000. Radcliffe Capital Management L.P. bought a new position in shares of Armada Acquisition Corp. II in the 4th quarter valued at approximately $4,780,000. Finally, Context Capital Management LLC acquired a new stake in Armada Acquisition Corp. II in the 4th quarter worth approximately $3,584,000. Institutional investors own 27.95% of the company’s stock.

About Armada Acquisition Corp. II

Armada Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Its mandate may include a merger, acquisition, stock purchase, reorganization or similar transaction.

As a SPAC, Armada Acquisition Corp. II does not operate a traditional commercial business and does not manufacture products or provide ongoing customer services. Instead, its activities are focused on evaluating potential target companies, negotiating a transaction and obtaining the required shareholder and regulatory approvals.

Publicly available information about the company’s specific target, operating geographies and leadership is limited.