Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) Sees Large Decline in Short Interest

Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) was the target of a significant drop in short interest in July. As of July 15th, there was short interest totaling 612 shares, a drop of 46.0% from the June 30th total of 1,133 shares. Based on an average daily trading volume, of 6,438 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Newbury Street II Acquisition Corp – Class A Ordinary Shares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hudson Bay Capital Management LP acquired a new position in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares in the second quarter valued at approximately $8,995,000. Goldman Sachs Group Inc. acquired a new stake in Newbury Street II Acquisition Corp – Class A Ordinary Shares during the 1st quarter worth approximately $4,396,000. Whitebox Advisors LLC bought a new stake in Newbury Street II Acquisition Corp – Class A Ordinary Shares during the 2nd quarter worth approximately $3,859,000. Radcliffe Capital Management L.P. acquired a new position in Newbury Street II Acquisition Corp – Class A Ordinary Shares in the 2nd quarter valued at approximately $2,854,000. Finally, Moore Capital Management LP acquired a new position in Newbury Street II Acquisition Corp – Class A Ordinary Shares in the 2nd quarter valued at approximately $2,058,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Newbury Street II Acquisition Corp – Class A Ordinary Shares Stock Performance

Shares of NASDAQ NTWO remained flat at $10.74 during midday trading on Wednesday. 6 shares of the company’s stock were exchanged, compared to its average volume of 15,460. The company’s 50 day moving average price is $10.67 and its 200-day moving average price is $10.58. Newbury Street II Acquisition Corp – Class A Ordinary Shares has a 12-month low of $10.29 and a 12-month high of $10.74.

Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.06 earnings per share for the quarter.

About Newbury Street II Acquisition Corp – Class A Ordinary Shares

Newbury Street II Acquisition Corp is a blank check company incorporated in Delaware in 2021 for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a special purpose acquisition company (SPAC), it does not currently engage in commercial operations and intends to identify and acquire a target company.

The company completed its initial public offering and listing of its Class A ordinary shares on the Nasdaq under the symbol NTWO in early 2021.