Twelve Seas Investment Company II (NASDAQ:TWLV) Releases Quarterly Earnings Results

Twelve Seas Investment Company II (NASDAQ:TWLV) posted its quarterly earnings results on Friday. The company reported $0.06 EPS for the quarter, FiscalAI reports.

Twelve Seas Investment Company II Price Performance

NASDAQ:TWLV traded up $0.03 during trading hours on Friday, reaching $10.13. The company’s stock had a trading volume of 21,526 shares, compared to its average volume of 50,573. The company has a market cap of $237.45 million and a price-to-earnings ratio of 84.42. Twelve Seas Investment Company II has a one year low of $9.84 and a one year high of $10.38. The business’s 50-day moving average is $10.09 and its 200-day moving average is $10.00.

Hedge Funds Weigh In On Twelve Seas Investment Company II

A hedge fund recently bought a new position in Twelve Seas Investment Company II stock. BlueCrest Capital Management Ltd purchased a new position in shares of Twelve Seas Investment Company II (NASDAQ:TWLV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 400,000 shares of the company’s stock, valued at approximately $3,996,000. BlueCrest Capital Management Ltd owned approximately 1.71% of Twelve Seas Investment Company II as of its most recent filing with the SEC. Institutional investors and hedge funds own 7.89% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings raised Twelve Seas Investment Company II from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 13th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has a consensus rating of “Sell”.

Twelve Seas Investment Company II Company Profile

Twelve Seas Investment Company II was a special purpose acquisition company, or SPAC, formed to pursue a business combination with one or more operating businesses. Its stated transaction options included a merger, share exchange, asset acquisition, share purchase, reorganization or similar combination. Unlike an operating company, Twelve Seas Investment Company II did not offer products or services to customers. Its primary activities were seeking and evaluating a potential business combination and, if an agreement was reached, working toward completing that transaction.