Wall Street Zen Upgrades Drugs Made In America Acquisition II (NASDAQ:DMII) to “Hold”

Drugs Made In America Acquisition II (NASDAQ:DMII) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings upgraded shares of Drugs Made In America Acquisition II from a “sell (e)” rating to a “sell (d-)” rating in a research note on Tuesday, September 1st. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company has an average rating of “Sell”.

Drugs Made In America Acquisition II Price Performance

Shares of NASDAQ:DMII opened at $10.19 on Friday. Drugs Made In America Acquisition II has a fifty-two week low of $9.86 and a fifty-two week high of $10.33. The business has a 50-day simple moving average of $10.17 and a two-hundred day simple moving average of $10.10.

Drugs Made In America Acquisition II (NASDAQ:DMII) last posted its earnings results on Friday, August 14th. The company reported $0.07 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Drugs Made In America Acquisition II

Institutional investors and hedge funds have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Drugs Made In America Acquisition II in the first quarter worth $19,960,000. Sona Asset Management US LLC increased its position in Drugs Made In America Acquisition II by 66.7% during the first quarter. Sona Asset Management US LLC now owns 500,000 shares of the company’s stock valued at $4,985,000 after acquiring an additional 200,000 shares during the last quarter. Kryger Capital LLC bought a new position in Drugs Made In America Acquisition II in the first quarter valued at about $3,088,000. Rivernorth Capital Management LLC bought a new position in Drugs Made In America Acquisition II in the first quarter valued at about $2,991,000. Finally, SkyView Investment Advisors LLC purchased a new position in Drugs Made In America Acquisition II in the second quarter worth about $2,515,000.

Drugs Made In America Acquisition II Company Profile

Drugs Made In America Acquisition II (NASDAQ: DMII) is a special purpose acquisition company (SPAC). The company was established to pursue a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

Its stated focus is on identifying a target in the pharmaceutical, biotechnology or related healthcare sectors, with an emphasis on companies involved in drug development, manufacturing or other activities connected with medicines produced in the United States.