Galata Acquisition Corp. II (NASDAQ:LATA) Short Interest Update

Galata Acquisition Corp. II (NASDAQ:LATA) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totaling 177 shares, a decrease of 96.2% from the May 31st total of 4,627 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 2,705 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Galata Acquisition Corp. II

A number of institutional investors and hedge funds have recently bought and sold shares of LATA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Galata Acquisition Corp. II in the 4th quarter worth about $3,976,000. Periscope Capital Inc. purchased a new stake in shares of Galata Acquisition Corp. II during the fourth quarter worth about $4,125,000. Lineage Point Capital LP bought a new stake in Galata Acquisition Corp. II in the fourth quarter valued at $746,000. Context Capital Management LLC bought a new position in Galata Acquisition Corp. II in the fourth quarter worth about $1,988,000. Finally, Wealthspring Capital LLC bought a new stake in shares of Galata Acquisition Corp. II during the fourth quarter valued at approximately $3,195,000.

Galata Acquisition Corp. II Stock Up 0.1%

Shares of LATA traded up $0.01 during trading hours on Friday, hitting $10.10. The company’s stock had a trading volume of 9,068 shares, compared to its average volume of 35,905. The company has a 50 day moving average price of $10.07. Galata Acquisition Corp. II has a 52-week low of $9.91 and a 52-week high of $10.20.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings initiated coverage on Galata Acquisition Corp. II in a research report on Tuesday, May 26th. They set a “sell (e+)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Galata Acquisition Corp. II presently has an average rating of “Sell”.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank‑check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.