Galata Acquisition Corp. II (NASDAQ:LATA) Issues Earnings Results

Galata Acquisition Corp. II (NASDAQ:LATA) posted its quarterly earnings results on Wednesday. The company reported $0.06 earnings per share for the quarter, FiscalAI reports.

Galata Acquisition Corp. II Stock Down 0.1%

Shares of LATA traded down $0.01 during mid-day trading on Friday, reaching $10.14. The company had a trading volume of 17,917 shares, compared to its average volume of 3,086. Galata Acquisition Corp. II has a 52-week low of $9.91 and a 52-week high of $10.20. The company has a 50 day moving average price of $10.11.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Rivernorth Capital Management LLC acquired a new stake in shares of Galata Acquisition Corp. II during the 1st quarter worth approximately $2,997,000. Sona Asset Management US LLC purchased a new stake in Galata Acquisition Corp. II during the first quarter worth $1,411,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Galata Acquisition Corp. II during the first quarter worth $4,995,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Galata Acquisition Corp. II during the fourth quarter valued at $1,245,000. Finally, Lineage Point Capital LP acquired a new stake in Galata Acquisition Corp. II during the fourth quarter valued at $746,000.

Analysts Set New Price Targets

Separately, Weiss Ratings began coverage on Galata Acquisition Corp. II in a research note on Tuesday, May 26th. They issued a “sell (e+)” rating for the company. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Galata Acquisition Corp. II has an average rating of “Sell”.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank?check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.