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

Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 19,625 shares, an increase of 3,187.3% from the August 15th total of 597 shares. Based on an average daily trading volume, of 1,219,306 shares, the days-to-cover ratio is currently 0.0 days.

Hedge Funds Weigh In On Newbury Street II Acquisition Corp – Class A Ordinary Shares

Hedge funds have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new stake in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares during the 3rd quarter worth $106,000. Robinson Capital Management LLC raised its stake in Newbury Street II Acquisition Corp – Class A Ordinary Shares by 78.7% in the second quarter. Robinson Capital Management LLC now owns 27,250 shares of the company’s stock valued at $290,000 after purchasing an additional 12,000 shares in the last quarter. ABC Arbitrage SA bought a new stake in Newbury Street II Acquisition Corp – Class A Ordinary Shares during the fourth quarter worth about $209,000. Radcliffe Capital Management L.P. lifted its position in Newbury Street II Acquisition Corp – Class A Ordinary Shares by 21.6% during the fourth quarter. Radcliffe Capital Management L.P. now owns 414,038 shares of the company’s stock worth $4,318,000 after purchasing an additional 73,601 shares during the period. Finally, L1 Global Manager Pty Ltd acquired a new stake in Newbury Street II Acquisition Corp – Class A Ordinary Shares during the fourth quarter worth about $1,043,000.

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

Shares of NASDAQ:NTWO opened at $10.90 on Friday. Newbury Street II Acquisition Corp – Class A Ordinary Shares has a 12-month low of $10.29 and a 12-month high of $12.14. The company’s 50 day moving average price is $10.87 and its two-hundred day moving average price is $10.68.

Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.01 earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Newbury Street II Acquisition Corp – Class A Ordinary Shares from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Newbury Street II Acquisition Corp – Class A Ordinary Shares Company Profile

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.