Armada Acquisition Corp. II (NASDAQ:XRPN) Short Interest Update

Armada Acquisition Corp. II (NASDAQ:XRPN) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 97,792 shares, a growth of 70.4% from the April 30th total of 57,398 shares. Based on an average daily trading volume, of 52,715 shares, the days-to-cover ratio is currently 1.9 days. Currently, 0.3% of the company’s shares are sold short.

Armada Acquisition Corp. II Stock Performance

XRPN stock opened at $10.41 on Thursday. The stock’s 50 day moving average price is $10.36. Armada Acquisition Corp. II has a fifty-two week low of $10.00 and a fifty-two week high of $10.91.

Armada Acquisition Corp. II (NASDAQ:XRPN) last issued its quarterly earnings results on Wednesday, May 13th. The company reported $0.04 earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Armada Acquisition Corp. II in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Armada Acquisition Corp. II currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Armada Acquisition Corp. II

Institutional investors and hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new stake in Armada Acquisition Corp. II in the fourth quarter valued at $1,058,000. Periscope Capital Inc. acquired a new position in shares of Armada Acquisition Corp. II during the 4th quarter worth about $2,048,000. Geode Capital Management LLC acquired a new position in shares of Armada Acquisition Corp. II during the 4th quarter worth about $155,000. Arrington Capital Management LLC purchased a new position in shares of Armada Acquisition Corp. II in the 4th quarter valued at about $59,351,000. Finally, Aristeia Capital L.L.C. acquired a new stake in shares of Armada Acquisition Corp. II during the 4th quarter worth about $5,120,000. Institutional investors and hedge funds own 27.95% of the company’s stock.

Armada Acquisition Corp. II Company Profile

Armada Acquisition Corp. II (NASDAQ: XRPN) is a special purpose acquisition company (SPAC), commonly known as a blank‑check company, formed to raise capital through an initial public offering for the purpose of effecting a business combination. As a SPAC, the company does not operate an active commercial business; instead, its primary activity is identifying, negotiating and completing a merger, share exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more target companies.

Following its public listing, Armada Acquisition Corp.