Armada Acquisition Corp. II (NASDAQ:XRPN) Stock Short Interest Drops 52.7%

Armada Acquisition Corp. II (NASDAQ:XRPN) was the recipient of a significant drop in short interest during the month of October. As of October 30th, there was short interest totaling 910,669 shares, a drop of 52.7% from the October 15th total of 1,926,428 shares. Based on an average trading volume of 616,364 shares, the days-to-cover ratio is currently 1.5 days. Approximately 2.9% of the company’s shares are short sold.

Armada Acquisition Corp. II Trading Down 12.5%

NASDAQ:XRPN traded down $1.12 during mid-day trading on Friday, hitting $7.85. The company had a trading volume of 390,538 shares, compared to its average volume of 618,345. Armada Acquisition Corp. II has a fifty-two week low of $7.39 and a fifty-two week high of $53.00. The business’s fifty day moving average is $14.31 and its two-hundred day moving average is $11.37.

Armada Acquisition Corp. II (NASDAQ:XRPN) last posted its earnings results on Thursday, August 13th. The company reported $0.05 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Armada Acquisition Corp. II

Several large investors have recently bought and sold shares of XRPN. Western Wealth Management LLC bought a new stake in shares of Armada Acquisition Corp. II in the 3rd quarter valued at $272,000. First Trust Capital Management L.P. acquired a new stake in Armada Acquisition Corp. II during the 3rd quarter worth $7,525,000. StoneX Group Inc. acquired a new stake in Armada Acquisition Corp. II during the 3rd quarter worth $225,000. Finally, Commonwealth Equity Services LLC bought a new position in Armada Acquisition Corp. II during the third quarter worth about $3,595,000. Institutional investors own 27.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Armada Acquisition Corp. II in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of “Sell”.

Armada Acquisition Corp. II Company Profile

Armada Acquisition Corp. II is a special purpose acquisition company, or SPAC. Rather than operating a commercial business of its own, it was formed to seek a merger, stock exchange, asset acquisition, or similar business combination with another company. As a result, it does not offer its own products or services, and information about operating geographies or business divisions does not apply. I could not verify reliable details about its intended target or leadership.