Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) Short Interest Down 39.3% in May

Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) was the target of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 33,386 shares, a decrease of 39.3% from the May 14th total of 54,969 shares. Based on an average daily volume of 402,514 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Archimedes Tech SPAC Partners II

Hedge funds have recently added to or reduced their stakes in the company. L1 Global Manager Pty Ltd acquired a new stake in Archimedes Tech SPAC Partners II in the fourth quarter valued at approximately $2,072,000. Westchester Capital Management LLC raised its holdings in Archimedes Tech SPAC Partners II by 0.8% in the fourth quarter. Westchester Capital Management LLC now owns 907,144 shares of the company’s stock valued at $9,398,000 after acquiring an additional 7,144 shares in the last quarter. Meteora Capital LLC raised its holdings in Archimedes Tech SPAC Partners II by 10.5% in the fourth quarter. Meteora Capital LLC now owns 718,433 shares of the company’s stock valued at $7,443,000 after acquiring an additional 68,533 shares in the last quarter. Rivernorth Capital Management LLC raised its holdings in Archimedes Tech SPAC Partners II by 25.2% in the fourth quarter. Rivernorth Capital Management LLC now owns 447,750 shares of the company’s stock valued at $4,639,000 after acquiring an additional 90,000 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Archimedes Tech SPAC Partners II by 1.3% in the fourth quarter. Millennium Management LLC now owns 307,985 shares of the company’s stock valued at $3,191,000 after acquiring an additional 4,020 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Archimedes Tech SPAC Partners II from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Archimedes Tech SPAC Partners II currently has an average rating of “Sell”.

Archimedes Tech SPAC Partners II Price Performance

Shares of ATII remained flat at $10.98 during mid-day trading on Monday. 33,388 shares of the stock traded hands, compared to its average volume of 186,921. Archimedes Tech SPAC Partners II has a 1-year low of $10.12 and a 1-year high of $11.40. The business has a fifty day moving average price of $10.83.

Archimedes Tech SPAC Partners II (NASDAQ:ATII) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.06 earnings per share (EPS) for the quarter.

About Archimedes Tech SPAC Partners II

Archimedes Tech SPAC Partners II (NASDAQ: ATII) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank‑check vehicle, its primary business purpose is to identify, evaluate and complete a business combination, merger, acquisition or other similar transaction that will result in a publicly traded operating company. The company itself does not conduct an independent operating business prior to completing a qualifying transaction.

Like other SPACs, Archimedes Tech SPAC Partners II raises capital through an initial public offering and places the proceeds in a trust account while it pursues potential targets.