Galata Acquisition Corp. II (NASDAQ:LATA) Stock Short Interest Declines 40.0%

Galata Acquisition Corp. II (NASDAQ:LATA) saw a large decline in short interest in September. As of September 30th, there was short interest totaling 30 shares, a decline of 40.0% from the September 15th total of 50 shares. Based on an average daily trading volume, of 38,889 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Galata Acquisition Corp. II Stock Performance

Shares of LATA traded down $0.01 during mid-day trading on Friday, hitting $10.21. The company’s stock had a trading volume of 20,006 shares, compared to its average volume of 48,214. The firm has a 50-day moving average price of $10.19 and a 200 day moving average price of $10.11. Galata Acquisition Corp. II has a fifty-two week low of $9.91 and a fifty-two week high of $10.22.

Galata Acquisition Corp. II (NASDAQ:LATA) last released its earnings results on Wednesday, August 12th. The company reported $0.06 EPS for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LATA. Lineage Point Capital LP bought a new position in shares of Galata Acquisition Corp. II in the fourth quarter valued at $746,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Galata Acquisition Corp. II during the 4th quarter worth $1,245,000. Sona Asset Management US LLC bought a new stake in shares of Galata Acquisition Corp. II during the 1st quarter worth $1,411,000. Mangrove Partners IM LLC acquired a new position in shares of Galata Acquisition Corp. II in the 4th quarter worth $2,206,000. Finally, Rivernorth Capital Management LLC acquired a new position in shares of Galata Acquisition Corp. II in the 1st quarter worth $2,997,000.

Analyst Ratings Changes

Separately, Weiss Ratings raised Galata Acquisition Corp. II from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has an average rating of “Sell”.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II (NASDAQ:LATA) is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating companies. The company does not have significant ongoing commercial operations, products or services of its own.

Its principal objective is to raise capital and use the proceeds, together with other available funding, to acquire, merge with or otherwise combine with a target business. Until a transaction is completed, Galata Acquisition Corp.