Twelve Seas Investment Company II (NASDAQ:TWLV) Announces Quarterly Earnings Results

Twelve Seas Investment Company II (NASDAQ:TWLV) released its quarterly earnings results on Friday. The company reported $0.06 earnings per share (EPS) for the quarter, FiscalAI reports.

Twelve Seas Investment Company II Stock Performance

NASDAQ TWLV traded up $0.03 during trading hours on Friday, reaching $10.13. The stock had a trading volume of 21,526 shares, compared to its average volume of 65,972. Twelve Seas Investment Company II has a 52-week low of $9.84 and a 52-week high of $10.38. The stock has a fifty day moving average of $10.09 and a 200 day moving average of $10.00. The stock has a market cap of $237.45 million and a P/E ratio of 84.42.

Hedge Funds Weigh In On Twelve Seas Investment Company II

An institutional investor recently bought a new position in Twelve Seas Investment Company II stock. First Trust Capital Management L.P. acquired a new stake in shares of Twelve Seas Investment Company II (NASDAQ:TWLV) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 145,012 shares of the company’s stock, valued at approximately $1,461,000. First Trust Capital Management L.P. owned 0.62% of Twelve Seas Investment Company II at the end of the most recent quarter. 7.89% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Twelve Seas Investment Company II from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 13th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Twelve Seas Investment Company II Company Profile

Twelve Seas Investment Company II was a special purpose acquisition company, or SPAC, formed to pursue a business combination with one or more operating businesses. Its stated transaction options included a merger, share exchange, asset acquisition, share purchase, reorganization or similar combination. Unlike an operating company, Twelve Seas Investment Company II did not offer products or services to customers. Its primary activities were seeking and evaluating a potential business combination and, if an agreement was reached, working toward completing that transaction.