Twelve Seas Investment Company II (NASDAQ:TWLV) Shares Climb 0.2% – Here’s Why

Shares of Twelve Seas Investment Company II (NASDAQ:TWLV) were up 0.2% on Friday. The stock traded as high as $10.07 and last traded at $10.0910. 3,131 shares were traded during mid-day trading, a decline of 90% from the average session volume of 30,992 shares. The stock had previously closed at $10.07.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Twelve Seas Investment Company II from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 13th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Twelve Seas Investment Company II Price Performance

The stock has a market cap of $236.53 million and a price-to-earnings ratio of 84.09. The firm’s 50-day moving average is $10.09 and its 200 day moving average is $10.02.

Twelve Seas Investment Company II (NASDAQ:TWLV) last announced its quarterly earnings results on Monday, August 17th. The company reported $0.06 earnings per share for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Twelve Seas Investment Company II stock. BlueCrest Capital Management Ltd acquired a new position in Twelve Seas Investment Company II (NASDAQ:TWLV) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 7.89% of the company’s stock.

Twelve Seas Investment Company II Company Profile

Twelve Seas Investment Company II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Rather than operating a traditional business or selling products and services, the company was established to raise capital through a public offering and use those funds, together with other financing, to acquire or merge with a target business.

The company’s activities have primarily consisted of evaluating potential acquisition opportunities, conducting due diligence, negotiating transaction terms and seeking shareholder approval for a proposed business combination.