Pyrophyte Acquisition Corp. II (NYSE:PAII) Stock Price Down 0.1% – Here’s Why

Pyrophyte Acquisition Corp. II (NYSE:PAII) shares dropped 0.1% on Tuesday . The company traded as low as $10.13 and last traded at $10.1410. Approximately 100 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 75,725 shares. The stock had previously closed at $10.15.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e)” rating on shares of Pyrophyte Acquisition Corp. II in a report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Pyrophyte Acquisition Corp. II Stock Up 0.0%

The stock’s 50 day moving average price is $10.13 and its two-hundred day moving average price is $10.07.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PAII. Wolverine Asset Management LLC acquired a new stake in shares of Pyrophyte Acquisition Corp. II during the 4th quarter valued at about $88,000. Deltec Asset Management LLC acquired a new position in Pyrophyte Acquisition Corp. II in the third quarter worth approximately $100,000. ABC Arbitrage SA bought a new position in Pyrophyte Acquisition Corp. II during the fourth quarter valued at approximately $252,000. Virtu Financial LLC acquired a new stake in Pyrophyte Acquisition Corp. II in the fourth quarter valued at approximately $258,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in Pyrophyte Acquisition Corp. II in the third quarter valued at approximately $726,000.

About Pyrophyte Acquisition Corp. II

FTAC Parnassus Acquisition II Ltd is a special purpose acquisition company (“SPAC”) formed as an exempted Cayman Islands company and listed on the New York Stock Exchange under the ticker PAII. Like other blank check companies, its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses. Since its initial public offering in early 2021, FTAC Parnassus Acquisition II has held its proceeds in trust pending the identification of a suitable target.

The company is sponsored by FTAC Management LLC in collaboration with Parnassus Investments, a San Francisco–based asset manager known for its long‐term, sustainable‐value approach.