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

Galata Acquisition Corp. II (NASDAQ:LATA) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 4,627 shares, a growth of 3,692.6% from the May 14th total of 122 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,163 shares, the short-interest ratio is presently 1.5 days.

Hedge Funds Weigh In On Galata Acquisition Corp. II

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC acquired a new position in Galata Acquisition Corp. II during the first quarter worth $2,997,000. Sona Asset Management US LLC acquired a new stake in shares of Galata Acquisition Corp. II during the 1st quarter worth approximately $1,411,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Galata Acquisition Corp. II during the 1st quarter worth approximately $4,995,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Galata Acquisition Corp. II during the 4th quarter worth approximately $1,245,000. Finally, Lineage Point Capital LP acquired a new stake in shares of Galata Acquisition Corp. II during the 4th quarter worth approximately $746,000.

Galata Acquisition Corp. II Stock Performance

NASDAQ LATA traded up $0.02 on Tuesday, reaching $10.10. 25,137 shares of the company were exchanged, compared to its average volume of 59,685. The firm has a fifty day simple moving average of $10.04. Galata Acquisition Corp. II has a fifty-two week low of $9.91 and a fifty-two week high of $10.20.

Wall Street Analyst Weigh In

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

About Galata Acquisition Corp. II

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.