Short Interest in Andretti Acquisition Corp. II (NASDAQ:POLE) Grows By 432.5%

Andretti Acquisition Corp. II (NASDAQ:POLE) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 1,246 shares, a growth of 432.5% from the June 15th total of 234 shares. Based on an average daily trading volume, of 12,619 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Institutional Trading of Andretti Acquisition Corp. II

Several hedge funds have recently made changes to their positions in POLE. Radcliffe Capital Management L.P. grew its position in Andretti Acquisition Corp. II by 0.3% in the fourth quarter. Radcliffe Capital Management L.P. now owns 478,664 shares of the company’s stock worth $5,031,000 after acquiring an additional 1,663 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Andretti Acquisition Corp. II during the fourth quarter valued at approximately $41,000. Glazer Capital LLC lifted its stake in shares of Andretti Acquisition Corp. II by 3.3% in the 4th quarter. Glazer Capital LLC now owns 263,547 shares of the company’s stock valued at $2,770,000 after purchasing an additional 8,403 shares during the last quarter. HRT Financial LP bought a new stake in shares of Andretti Acquisition Corp. II in the 4th quarter valued at approximately $113,000. Finally, Clear Street Group Inc. purchased a new position in shares of Andretti Acquisition Corp. II in the 3rd quarter worth approximately $149,000.

Andretti Acquisition Corp. II Stock Performance

NASDAQ:POLE traded up $0.01 during trading hours on Friday, reaching $10.78. The stock had a trading volume of 2,753 shares, compared to its average volume of 10,903. Andretti Acquisition Corp. II has a 52 week low of $10.38 and a 52 week high of $10.90. The company has a 50 day moving average price of $10.74 and a two-hundred day moving average price of $10.65.

Andretti Acquisition Corp. II (NASDAQ:POLE) last posted its earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Andretti Acquisition Corp. II in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Andretti Acquisition Corp. II Company Profile

Andretti Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering for the purpose of effecting a business combination. The company has no commercial operations of its own but seeks to merge with or acquire a private business with a focus on advanced mobility, high-performance automotive technologies, or related sectors. By leveraging the Andretti brand, it aims to align with firms operating at the intersection of motorsports and cutting-edge vehicle innovation.

The SPAC structure allows Andretti Acquisition Corp.