Galata Acquisition Corp. II (NASDAQ:LATA) Trading Up 0.2% – Here’s What Happened

Shares of Galata Acquisition Corp. II (NASDAQ:LATA) were up 0.2% during mid-day trading on Friday . The stock traded as high as $10.19 and last traded at $10.2150. 2,543 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 7,291 shares. The stock had previously closed at $10.19.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Galata Acquisition Corp. II from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Galata Acquisition Corp. II Stock Performance

The company has a 50 day simple moving average of $10.14 and a two-hundred day simple moving average of $10.08.

Galata Acquisition Corp. II (NASDAQ:LATA) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.06 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Galata Acquisition Corp. II

Hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. bought a new stake in Galata Acquisition Corp. II in the fourth quarter worth about $13,446,000. Picton Mahoney Asset Management bought a new position in shares of Galata Acquisition Corp. II during the fourth quarter valued at approximately $9,960,000. Alberta Investment Management Corp purchased a new stake in shares of Galata Acquisition Corp. II in the fourth quarter worth approximately $7,221,000. AQR Arbitrage LLC bought a new stake in shares of Galata Acquisition Corp. II during the 4th quarter worth approximately $6,747,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in Galata Acquisition Corp. II during the 4th quarter valued at $5,976,000.

Galata Acquisition Corp. II Company Profile

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.