Galata Acquisition Corp. II (NASDAQ:LATA) Shares Up 0.5% – Here’s What Happened

Galata Acquisition Corp. II (NASDAQ:LATA)’s stock price traded up 0.5% on Friday. The stock traded as high as $10.22 and last traded at $10.2660. Approximately 208,016 shares were traded during mid-day trading, an increase of 6,378% from the average session volume of 3,211 shares. The stock had previously closed at $10.22.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Galata Acquisition Corp. II from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 14th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Galata Acquisition Corp. II Stock Performance

The company has a 50 day moving average price of $10.21 and a 200 day moving average price of $10.10.

Galata Acquisition Corp. II (NASDAQ:LATA) last released its quarterly earnings data on Wednesday, August 12th. The company reported $0.06 earnings per share for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Galata Acquisition Corp. II in the 1st quarter worth about $4,995,000. Rivernorth Capital Management LLC purchased a new position in Galata Acquisition Corp. II during the 1st quarter valued at about $2,997,000. Context Capital Management LLC purchased a new position in Galata Acquisition Corp. II during the 3rd quarter valued at about $2,040,000. Sona Asset Management US LLC purchased a new position in Galata Acquisition Corp. II during the 1st quarter valued at about $1,411,000. Finally, Condor Capital Management acquired a new position in Galata Acquisition Corp. II during the third quarter worth about $144,000.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination, such as a merger, capital stock exchange, asset acquisition, or similar transaction, with one or more operating businesses.

As a SPAC, the company does not currently operate a traditional commercial business and does not offer products or services to customers. Its activities are primarily focused on evaluating potential acquisition targets, completing a transaction, and supporting the resulting combined company.

Publicly available information about Galata Acquisition Corp.