Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) Short Interest Up 532.8% in May

Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totaling 54,969 shares, a growth of 532.8% from the April 30th total of 8,687 shares. Based on an average trading volume of 279,427 shares, the days-to-cover ratio is presently 0.2 days.

Archimedes Tech SPAC Partners II Trading Down 1.1%

Shares of Archimedes Tech SPAC Partners II stock traded down $0.12 during trading on Friday, hitting $11.08. 161,474 shares of the company were exchanged, compared to its average volume of 171,381. The stock has a fifty day moving average price of $10.68. Archimedes Tech SPAC Partners II has a 1-year low of $10.11 and a 1-year high of $11.40.

Archimedes Tech SPAC Partners II (NASDAQ:ATII) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.06 earnings per share for the quarter.

Institutional Investors Weigh In On Archimedes Tech SPAC Partners II

A number of hedge funds have recently modified their holdings of ATII. StoneX Group Inc. acquired a new stake in shares of Archimedes Tech SPAC Partners II during the fourth quarter worth about $524,000. L1 Global Manager Pty Ltd acquired a new stake in shares of Archimedes Tech SPAC Partners II during the fourth quarter worth about $2,072,000. Westchester Capital Management LLC increased its position in shares of Archimedes Tech SPAC Partners II by 0.8% during the fourth quarter. Westchester Capital Management LLC now owns 907,144 shares of the company’s stock worth $9,398,000 after acquiring an additional 7,144 shares in the last quarter. Radcliffe Capital Management L.P. increased its position in shares of Archimedes Tech SPAC Partners II by 7.7% during the fourth quarter. Radcliffe Capital Management L.P. now owns 658,322 shares of the company’s stock worth $6,820,000 after acquiring an additional 46,800 shares in the last quarter. Finally, Meteora Capital LLC boosted its position in shares of Archimedes Tech SPAC Partners II by 10.5% during the fourth quarter. Meteora Capital LLC now owns 718,433 shares of the company’s stock worth $7,443,000 after buying an additional 68,533 shares during the period.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Archimedes Tech SPAC Partners II from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Archimedes Tech SPAC Partners II has a consensus rating of “Sell”.

Archimedes Tech SPAC Partners II Company Profile

Archimedes Tech SPAC Partners II (NASDAQ: ATII) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank‑check vehicle, its primary business purpose is to identify, evaluate and complete a business combination, merger, acquisition or other similar transaction that will result in a publicly traded operating company. The company itself does not conduct an independent operating business prior to completing a qualifying transaction.

Like other SPACs, Archimedes Tech SPAC Partners II raises capital through an initial public offering and places the proceeds in a trust account while it pursues potential targets.