Andretti Acquisition Corp. II (NASDAQ:POLE) Sees Large Increase in Short Interest

Andretti Acquisition Corp. II (NASDAQ:POLE) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 953 shares, an increase of 378.9% from the August 31st total of 199 shares. Based on an average trading volume of 274,960 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Radcliffe Capital Management L.P. lifted its position in Andretti Acquisition Corp. II by 0.3% during the fourth quarter. Radcliffe Capital Management L.P. now owns 478,664 shares of the company’s stock valued at $5,031,000 after purchasing an additional 1,663 shares during the period. Lineage Point Capital LP bought a new stake in Andretti Acquisition Corp. II in the 4th quarter worth approximately $299,000. Berkley W R Corp grew its position in Andretti Acquisition Corp. II by 9.6% in the 1st quarter. Berkley W R Corp now owns 462,495 shares of the company’s stock worth $4,923,000 after purchasing an additional 40,683 shares during the period. L1 Global Manager Pty Ltd purchased a new stake in Andretti Acquisition Corp. II during the 4th quarter valued at $1,051,000. Finally, Clear Street Group Inc. raised its stake in Andretti Acquisition Corp. II by 1,179.7% during the 4th quarter. Clear Street Group Inc. now owns 181,772 shares of the company’s stock valued at $1,910,000 after buying an additional 167,568 shares during the last quarter.

Andretti Acquisition Corp. II Price Performance

NASDAQ:POLE traded down $0.01 during mid-day trading on Friday, reaching $10.72. The company’s stock had a trading volume of 1,215 shares, compared to its average volume of 39,677. Andretti Acquisition Corp. II has a 12-month low of $10.46 and a 12-month high of $12.00. The firm’s fifty day moving average price is $10.79 and its two-hundred day moving average price is $10.73.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Andretti Acquisition Corp. II in a research note on Monday. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Andretti Acquisition Corp. II Company Profile

Andretti Acquisition Corp. II (NASDAQ: POLE) is a special purpose acquisition company, or SPAC. The company was formed to identify and complete a business combination with one or more businesses, such as a merger, acquisition, stock purchase, or similar transaction.

As a SPAC, Andretti Acquisition Corp. II does not have significant ongoing operating activities, products, or services of its own. Its primary purpose is to raise capital through a public offering and use those funds, together with other financing, to acquire or combine with an operating company.

The company’s ultimate industry focus, geographic scope, and operating profile will depend on the target business it selects.