Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) Major Shareholder Sells $1,413,100.00 in Stock

Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) major shareholder Alpine Global Management, Llc sold 130,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $10.87, for a total transaction of $1,413,100.00. Following the completion of the sale, the insider owned 380,183 shares in the company, valued at $4,132,589.21. This represents a 25.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Alpine Global Management, Llc also recently made the following trade(s):

• On Wednesday, November 4th, Alpine Global Management, Llc sold 5,382 shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares stock. The stock was sold at an average price of $11.10, for a total transaction of $59,740.20.
• On Friday, November 6th, Alpine Global Management, Llc sold 80,183 shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares stock. The stock was sold at an average price of $10.89, for a total transaction of $873,192.87.

Newbury Street II Acquisition Corp – Class A Ordinary Shares Trading Up 0.2%

Shares of NTWO opened at $10.94 on Thursday. The firm has a fifty day simple moving average of $10.88 and a two-hundred day simple moving average of $10.71. Newbury Street II Acquisition Corp – Class A Ordinary Shares has a 1-year low of $10.35 and a 1-year high of $12.14.

Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.04 earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Newbury Street II Acquisition Corp – Class A Ordinary Shares from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has an average rating of “Sell”.

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

Several institutional investors have recently made changes to their positions in NTWO. Periscope Capital Inc. purchased a new stake in Newbury Street II Acquisition Corp – Class A Ordinary Shares during the third quarter valued at approximately $1,292,000. Wealthspring Capital LLC purchased a new position in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares during the 3rd quarter worth $4,751,000. T3 Companies LLC bought a new stake in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares during the 3rd quarter valued at $1,182,000. Robinson Capital Management LLC grew its position in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares by 78.7% during the 2nd quarter. Robinson Capital Management LLC now owns 27,250 shares of the company’s stock valued at $290,000 after acquiring an additional 12,000 shares during the period. Finally, Sona Asset Management US LLC bought a new stake in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares during the 1st quarter valued at $1,764,000.

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

Newbury Street II Acquisition Corp. is a special purpose acquisition company (SPAC), also known as a blank-check company. It was formed to pursue a merger, share exchange, asset acquisition, or other business combination with one or more operating businesses. Unlike an operating company, Newbury Street II does not offer products or services of its own. Its business activity centers on identifying and evaluating a potential target and, if a suitable transaction is completed, combining with that business.