Armada Acquisition Corp. II (NASDAQ:XRPN) Shares Shorted: Short Interest Up 400.0% in September

Armada Acquisition Corp. II (NASDAQ:XRPN) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 342,627 shares, a growth of 400.0% from the September 15th total of 68,519 shares. Based on an average daily trading volume, of 879,816 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.1% of the shares of the company are sold short.

Institutional Investors Weigh In On Armada Acquisition Corp. II

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arrington Capital Management LLC acquired a new position in Armada Acquisition Corp. II in the fourth quarter worth $59,351,000. Aristeia Capital L.L.C. acquired a new stake in shares of Armada Acquisition Corp. II in the fourth quarter valued at $5,120,000. Radcliffe Capital Management L.P. bought a new position in shares of Armada Acquisition Corp. II in the fourth quarter valued at about $4,780,000. Magnetar Financial LLC bought a new position in shares of Armada Acquisition Corp. II in the fourth quarter valued at about $8,338,000. Finally, Sculptor Capital LP acquired a new position in Armada Acquisition Corp. II during the 4th quarter worth about $2,560,000. Institutional investors and hedge funds own 27.95% of the company’s stock.

Armada Acquisition Corp. II Stock Down 29.4%

Shares of XRPN stock opened at $17.09 on Friday. Armada Acquisition Corp. II has a 1 year low of $10.10 and a 1 year high of $53.00. The firm’s fifty day simple moving average is $12.96 and its 200 day simple moving average is $11.29.

Armada Acquisition Corp. II (NASDAQ:XRPN) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.05 EPS for the quarter.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Armada Acquisition Corp. II to a “hold” rating in a report on Saturday, June 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Armada Acquisition Corp. II in a report on Monday, September 28th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Armada Acquisition Corp. II Company Profile

Armada Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Its mandate may include a merger, acquisition, stock purchase, reorganization or similar transaction.

As a SPAC, Armada Acquisition Corp. II does not operate a traditional commercial business and does not manufacture products or provide ongoing customer services. Instead, its activities are focused on evaluating potential target companies, negotiating a transaction and obtaining the required shareholder and regulatory approvals.

Publicly available information about the company’s specific target, operating geographies and leadership is limited.