Galata Acquisition Corp. II (NASDAQ:LATA) Stock Short Interest Falls 40.0%

Galata Acquisition Corp. II (NASDAQ:LATA) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 30 shares, a drop of 40.0% from the September 15th total of 50 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 38,889 shares, the days-to-cover ratio is presently 0.0 days.

Galata Acquisition Corp. II Price Performance

Shares of NASDAQ:LATA opened at $10.21 on Thursday. The company’s 50-day moving average is $10.19 and its 200 day moving average is $10.11. Galata Acquisition Corp. II has a fifty-two week low of $9.91 and a fifty-two week high of $10.22.

Galata Acquisition Corp. II (NASDAQ:LATA) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lineage Point Capital LP bought a new position in shares of Galata Acquisition Corp. II during the 4th quarter valued at approximately $746,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Galata Acquisition Corp. II during the 4th quarter worth approximately $1,245,000. Sona Asset Management US LLC purchased a new stake in shares of Galata Acquisition Corp. II during the 1st quarter worth approximately $1,411,000. Mangrove Partners IM LLC bought a new stake in shares of Galata Acquisition Corp. II in the 4th quarter worth approximately $2,206,000. Finally, Rivernorth Capital Management LLC bought a new stake in shares of Galata Acquisition Corp. II in the 1st quarter worth approximately $2,997,000.

Analyst Ratings Changes

Separately, Weiss Ratings raised Galata Acquisition Corp. II from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Galata Acquisition Corp. II Company Profile

Galata Acquisition Corp. II (NASDAQ:LATA) is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating companies. The company does not have significant ongoing commercial operations, products or services of its own.

Its principal objective is to raise capital and use the proceeds, together with other available funding, to acquire, merge with or otherwise combine with a target business. Until a transaction is completed, Galata Acquisition Corp.