Pyrophyte Acquisition Corp. II (NYSE:PAII) Short Interest Update

Pyrophyte Acquisition Corp. II (NYSE:PAII) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 4,027 shares, an increase of 1,194.9% from the June 30th total of 311 shares. Based on an average trading volume of 38,748 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Pyrophyte Acquisition Corp. II in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Pyrophyte Acquisition Corp. II presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Sona Asset Management US LLC purchased a new position in Pyrophyte Acquisition Corp. II during the first quarter worth approximately $1,540,000. Lineage Point Capital LP purchased a new position in shares of Pyrophyte Acquisition Corp. II during the 4th quarter worth $733,000. Virtu Financial LLC acquired a new position in shares of Pyrophyte Acquisition Corp. II during the 4th quarter valued at about $258,000. Westchester Capital Management LLC purchased a new stake in shares of Pyrophyte Acquisition Corp. II in the fourth quarter valued at about $2,515,000. Finally, Mercuria Capital Strategies LLC acquired a new stake in Pyrophyte Acquisition Corp. II during the fourth quarter worth about $2,515,000.

Pyrophyte Acquisition Corp. II Stock Performance

PAII stock remained flat at $10.23 during trading on Friday. The company had a trading volume of 20 shares, compared to its average volume of 27,327. Pyrophyte Acquisition Corp. II has a 12 month low of $9.92 and a 12 month high of $10.25. The business’s fifty day moving average price is $10.21 and its 200-day moving average price is $10.15.

Pyrophyte Acquisition Corp. II (NYSE:PAII) last announced its earnings results on Friday, May 15th. The company reported $0.05 EPS for the quarter.

About Pyrophyte Acquisition Corp. II

FTAC Parnassus Acquisition II Ltd is a special purpose acquisition company (“SPAC”) formed as an exempted Cayman Islands company and listed on the New York Stock Exchange under the ticker PAII. Like other blank check companies, its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses. Since its initial public offering in early 2021, FTAC Parnassus Acquisition II has held its proceeds in trust pending the identification of a suitable target.

The company is sponsored by FTAC Management LLC in collaboration with Parnassus Investments, a San Francisco–based asset manager known for its long‐term, sustainable‐value approach.