Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) Sees Significant Growth in Short Interest

Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 55,932 shares, an increase of 142.9% from the July 30th total of 23,029 shares. Based on an average daily volume of 121,187 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On Archimedes Tech SPAC Partners II

A number of institutional investors have recently bought and sold shares of ATII. StoneX Group Inc. purchased a new stake in shares of Archimedes Tech SPAC Partners II in the 4th quarter valued at approximately $524,000. Readystate Asset Management LP raised its position in shares of Archimedes Tech SPAC Partners II by 0.8% during the 1st quarter. Readystate Asset Management LP now owns 148,734 shares of the company’s stock valued at $1,554,000 after buying an additional 1,200 shares during the period. L1 Global Manager Pty Ltd purchased a new stake in shares of Archimedes Tech SPAC Partners II during the 4th quarter valued at approximately $2,072,000. Harraden Circle Investments LLC acquired a new position in Archimedes Tech SPAC Partners II in the second quarter valued at approximately $2,530,000. Finally, Millennium Management LLC lifted its holdings in Archimedes Tech SPAC Partners II by 1.3% in the fourth quarter. Millennium Management LLC now owns 307,985 shares of the company’s stock valued at $3,191,000 after acquiring an additional 4,020 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Archimedes Tech SPAC Partners II in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Archimedes Tech SPAC Partners II Stock Down 0.3%

Shares of NASDAQ ATII traded down $0.03 during trading on Friday, hitting $10.64. 141,903 shares of the company were exchanged, compared to its average volume of 185,785. Archimedes Tech SPAC Partners II has a 12-month low of $10.19 and a 12-month high of $11.40. The company has a fifty day moving average price of $10.74 and a 200-day moving average price of $10.71.

About Archimedes Tech SPAC Partners II

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.