Andretti Acquisition Corp. II (NASDAQ:POLE) Sees Significant Drop in Short Interest

Andretti Acquisition Corp. II (NASDAQ:POLE) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totaling 776 shares, a decrease of 19.6% from the March 31st total of 965 shares. Based on an average daily trading volume, of 7,198 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Andretti Acquisition Corp. II

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Andretti Acquisition Corp. II during the 4th quarter valued at $41,000. HRT Financial LP bought a new position in Andretti Acquisition Corp. II during the 4th quarter valued at $113,000. Clear Street Group Inc. bought a new position in Andretti Acquisition Corp. II during the 3rd quarter valued at $149,000. Geode Capital Management LLC bought a new position in Andretti Acquisition Corp. II during the 4th quarter valued at $207,000. Finally, Lineage Point Capital LP bought a new position in Andretti Acquisition Corp. II during the 4th quarter valued at $299,000.

Andretti Acquisition Corp. II Stock Performance

NASDAQ POLE traded up $0.01 on Thursday, reaching $10.69. 3,967 shares of the stock traded hands, compared to its average volume of 31,750. The firm’s fifty day simple moving average is $10.64 and its 200 day simple moving average is $10.59. Andretti Acquisition Corp. II has a 12 month low of $10.21 and a 12 month high of $10.90.

Andretti Acquisition Corp. II (NASDAQ:POLE) last issued its quarterly earnings results on Tuesday, March 24th. The company reported $0.05 earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Andretti Acquisition Corp. II in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

About Andretti Acquisition Corp. II

Andretti Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering for the purpose of effecting a business combination. The company has no commercial operations of its own but seeks to merge with or acquire a private business with a focus on advanced mobility, high-performance automotive technologies, or related sectors. By leveraging the Andretti brand, it aims to align with firms operating at the intersection of motorsports and cutting-edge vehicle innovation.

The SPAC structure allows Andretti Acquisition Corp.