Twelve Seas Investment Company II (NASDAQ:TWLV) Stock Jumps 0.2% – Here’s Why

Twelve Seas Investment Company II (NASDAQ:TWLV) was up 0.2% during mid-day trading on Friday. The company traded as high as $10.07 and last traded at $10.0910. 3,131 shares changed hands during trading, a decline of 90% from the average session volume of 30,992 shares. The stock had previously closed at $10.07.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Twelve Seas Investment Company II from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Twelve Seas Investment Company II Stock Up 0.2%

The company has a market cap of $236.53 million and a P/E ratio of 84.09. The stock’s 50-day moving average price is $10.09 and its 200 day moving average price is $10.02.

Twelve Seas Investment Company II (NASDAQ:TWLV) last issued its quarterly earnings results on Monday, August 17th. The company reported $0.06 EPS for the quarter.

Institutional Trading of Twelve Seas Investment Company II

A hedge fund recently bought a new stake in Twelve Seas Investment Company II stock. BlueCrest Capital Management Ltd bought a new position in Twelve Seas Investment Company II (NASDAQ:TWLV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 400,000 shares of the company’s stock, valued at approximately $3,996,000. BlueCrest Capital Management Ltd owned about 1.71% of Twelve Seas Investment Company II as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 7.89% of the company’s stock.

Twelve Seas Investment Company II Company Profile

Twelve Seas Investment Company II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Rather than operating a traditional business or selling products and services, the company was established to raise capital through a public offering and use those funds, together with other financing, to acquire or merge with a target business.

The company’s activities have primarily consisted of evaluating potential acquisition opportunities, conducting due diligence, negotiating transaction terms and seeking shareholder approval for a proposed business combination.