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

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

Armada Acquisition Corp. II Stock Down 29.4%

XRPN stock traded down $7.11 during trading on Friday, reaching $17.09. 3,151,105 shares of the stock were exchanged, compared to its average volume of 1,805,057. The firm’s 50 day moving average is $12.96 and its 200 day moving average is $11.30. Armada Acquisition Corp. II has a twelve month low of $10.10 and a twelve month high of $53.00.

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

Hedge Funds Weigh In On Armada Acquisition Corp. II

A number of large investors have recently modified their holdings of XRPN. Arrington Capital Management LLC acquired a new stake in shares of Armada Acquisition Corp. II in the 4th quarter worth about $59,351,000. Aristeia Capital L.L.C. bought a new position in Armada Acquisition Corp. II in the 4th quarter valued at about $5,120,000. Radcliffe Capital Management L.P. acquired a new position in Armada Acquisition Corp. II during the 4th quarter valued at about $4,780,000. Magnetar Financial LLC acquired a new position in Armada Acquisition Corp. II during the 4th quarter valued at about $8,338,000. Finally, Sculptor Capital LP acquired a new position in Armada Acquisition Corp. II during the 4th quarter valued at about $2,560,000. 27.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

About Armada Acquisition Corp. II

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.