Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) Short Interest Down 39.3% in May

Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 33,386 shares, a drop of 39.3% from the May 14th total of 54,969 shares. Based on an average trading volume of 402,514 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Archimedes Tech SPAC Partners II

Institutional investors have recently made changes to their positions in the stock. L1 Global Manager Pty Ltd purchased a new stake in shares of Archimedes Tech SPAC Partners II during the fourth quarter worth $2,072,000. Rivernorth Capital Management LLC raised its stake in shares of Archimedes Tech SPAC Partners II by 25.2% during the 4th quarter. Rivernorth Capital Management LLC now owns 447,750 shares of the company’s stock worth $4,639,000 after purchasing an additional 90,000 shares in the last quarter. Meteora Capital LLC raised its stake in shares of Archimedes Tech SPAC Partners II by 10.5% during the 4th quarter. Meteora Capital LLC now owns 718,433 shares of the company’s stock worth $7,443,000 after purchasing an additional 68,533 shares in the last quarter. StoneX Group Inc. acquired a new stake in shares of Archimedes Tech SPAC Partners II during the 4th quarter valued at about $524,000. Finally, Radcliffe Capital Management L.P. grew its stake in shares of Archimedes Tech SPAC Partners II by 7.7% in the 4th quarter. Radcliffe Capital Management L.P. now owns 658,322 shares of the company’s stock valued at $6,820,000 after buying an additional 46,800 shares in the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Archimedes Tech SPAC Partners II from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Archimedes Tech SPAC Partners II currently has an average rating of “Sell”.

Archimedes Tech SPAC Partners II Trading Up 0.3%

Shares of NASDAQ:ATII traded up $0.03 during trading hours on Tuesday, hitting $11.01. 136,429 shares of the company’s stock traded hands, compared to its average volume of 187,295. The company’s fifty day simple moving average is $10.84. Archimedes Tech SPAC Partners II has a 52 week low of $10.12 and a 52 week high of $11.40.

Archimedes Tech SPAC Partners II (NASDAQ:ATII) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.06 EPS for the quarter.

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.