Galata Acquisition Corp. II (NASDAQ:LATA) Shares Shorted: Short Interest Down 66.9% in September

Galata Acquisition Corp. II (NASDAQ:LATA) was the target of a significant decline in short interest in September. As of September 15th, there was short interest totaling 50 shares, a decline of 66.9% from the August 31st total of 151 shares. Based on an average trading volume of 3,553 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Galata Acquisition Corp. II Trading Up 0.0%

LATA traded up $0.01 during trading on Monday, hitting $10.20. The company had a trading volume of 813 shares, compared to its average volume of 48,158. Galata Acquisition Corp. II has a 1-year low of $9.91 and a 1-year high of $10.21. The business has a 50-day moving average of $10.16 and a 200-day moving average of $10.09.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Galata Acquisition Corp. II

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sona Asset Management US LLC acquired a new position in shares of Galata Acquisition Corp. II in the 1st quarter worth approximately $1,411,000. Lineage Point Capital LP acquired a new stake in shares of Galata Acquisition Corp. II during the 4th quarter valued at approximately $746,000. Periscope Capital Inc. bought a new position in Galata Acquisition Corp. II during the fourth quarter worth $4,125,000. Rivernorth Capital Management LLC bought a new position in Galata Acquisition Corp. II during the first quarter worth $2,997,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Galata Acquisition Corp. II in the fourth quarter worth $3,976,000.

Galata Acquisition Corp. II Company Profile

Galata Acquisition Corp. II is a special purpose acquisition company, or SPAC, incorporated in the Cayman Islands and listed on the Nasdaq under the symbol LATA. The company was formed to pursue a business combination with one or more operating businesses.

Rather than offering products or services, Galata Acquisition Corp. II evaluates potential merger, share exchange, asset acquisition, share purchase, reorganization, or similar transactions. The company has not identified a specific target business, and its activities are primarily focused on finding and completing a suitable transaction.

As a SPAC, Galata Acquisition Corp.