Galata Acquisition Corp. II (NASDAQ:LATA) Announces Earnings Results

Galata Acquisition Corp. II (NASDAQ:LATA) announced its quarterly earnings results on Wednesday. The company reported $0.07 earnings per share for the quarter, FiscalAI reports.

Galata Acquisition Corp. II Price Performance

Shares of NASDAQ:LATA traded up $0.05 during trading on Friday, reaching $10.28. The company had a trading volume of 20,011 shares, compared to its average volume of 15,344. The company has a fifty day moving average of $10.22 and a two-hundred day moving average of $10.11. Galata Acquisition Corp. II has a 12 month low of $9.91 and a 12 month high of $10.23.

Institutional Trading of Galata Acquisition Corp. II

A number of hedge funds have recently made changes to their positions in LATA. Alberta Investment Management Corp purchased a new stake in Galata Acquisition Corp. II in the third quarter worth approximately $7,388,000. Condor Capital Management bought a new position in Galata Acquisition Corp. II during the third quarter valued at approximately $144,000. Context Capital Management LLC purchased a new position in shares of Galata Acquisition Corp. II during the third quarter worth approximately $2,040,000. Rivernorth Capital Management LLC purchased a new position in shares of Galata Acquisition Corp. II during the first quarter worth approximately $2,997,000. Finally, Sona Asset Management US LLC purchased a new position in shares of Galata Acquisition Corp. II during the first quarter worth approximately $1,411,000.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Galata Acquisition Corp. II in a research note on Thursday. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, Galata Acquisition Corp. II currently has an average rating of “Sell”.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II is a special purpose acquisition company (SPAC), formed to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more operating businesses. It does not conduct significant operating activities of its own while it searches for a suitable partner. The company has described its search as focused on businesses with growth potential, including opportunities in technology and related sectors. Its business-combination strategy may involve a company or companies in different industries or geographic markets.