RF Acquisition Corp II (NASDAQ:RFAI) Stock Short Interest Falls 35.4%

RF Acquisition Corp II (NASDAQ:RFAI) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 11,647 shares, a drop of 35.4% from the August 31st total of 18,043 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily volume of 20,082 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Trading of RF Acquisition Corp II

A hedge fund recently raised its position in RF Acquisition Corp II stock. Clear Street Group Inc. increased its holdings in shares of RF Acquisition Corp II (NASDAQ:RFAI) by 4,466.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,179 shares of the company’s stock after purchasing an additional 8,978 shares during the period. Clear Street Group Inc. owned approximately 0.06% of RF Acquisition Corp II worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of RF Acquisition Corp II from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

RF Acquisition Corp II Stock Down 4.7%

RF Acquisition Corp II stock opened at $37.55 on Thursday. RF Acquisition Corp II has a 52 week low of $8.94 and a 52 week high of $73.00. The stock has a 50-day moving average price of $27.93 and a 200 day moving average price of $16.95.

RF Acquisition Corp II (NASDAQ:RFAI) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.01 earnings per share for the quarter.

RF Acquisition Corp II Company Profile

RF Acquisition Corp II is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating companies. Its potential transactions may include a merger, stock purchase, asset acquisition, reorganization or similar combination.

As a SPAC, RF Acquisition Corp II does not operate a traditional product or service business. Instead, it holds funds raised through its public offering while its management team searches for a suitable target company.