Galata Acquisition Corp. II (NASDAQ:LATA) Short Interest Update

Galata Acquisition Corp. II (NASDAQ:LATA) was the recipient of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 177 shares, a decline of 96.2% from the May 31st total of 4,627 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 2,705 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

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

Galata Acquisition Corp. II Stock Up 0.1%

LATA traded up $0.01 during trading on Friday, hitting $10.10. 9,068 shares of the stock were exchanged, compared to its average volume of 37,262. The stock has a 50 day moving average price of $10.07. Galata Acquisition Corp. II has a 1 year low of $9.91 and a 1 year high of $10.20.

Hedge Funds Weigh In On Galata Acquisition Corp. II

Several institutional investors have recently made changes to their positions in the company. Condor Capital Management bought a new stake in shares of Galata Acquisition Corp. II in the fourth quarter valued at about $140,000. Deltec Asset Management LLC bought a new position in Galata Acquisition Corp. II during the 4th quarter worth about $149,000. ABC Arbitrage SA purchased a new position in Galata Acquisition Corp. II during the 4th quarter valued at about $199,000. Royal Bank of Canada purchased a new position in Galata Acquisition Corp. II during the 4th quarter valued at about $225,000. Finally, Virtu Financial LLC bought a new stake in shares of Galata Acquisition Corp. II in the 4th quarter valued at about $320,000.

Galata Acquisition Corp. II Company Profile

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.