Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) Major Shareholder Sells $873,192.87 in Stock

Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) major shareholder Alpine Global Management, Llc sold 80,183 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $10.89, for a total value of $873,192.87. Following the completion of the sale, the insider owned 300,000 shares of the company’s stock, valued at $3,267,000. The trade was a 21.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Alpine Global Management, Llc also recently made the following trade(s):

• On Wednesday, November 4th, Alpine Global Management, Llc sold 5,382 shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares stock. The stock was sold at an average price of $11.10, for a total transaction of $59,740.20.
• On Thursday, November 5th, Alpine Global Management, Llc sold 130,000 shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares stock. The stock was sold at an average price of $10.87, for a total transaction of $1,413,100.00.

Newbury Street II Acquisition Corp – Class A Ordinary Shares Stock Up 0.2%

Shares of NASDAQ NTWO opened at $10.94 on Thursday. Newbury Street II Acquisition Corp – Class A Ordinary Shares has a 52 week low of $10.35 and a 52 week high of $12.14. The firm’s fifty day moving average is $10.88 and its 200 day moving average is $10.71.

Newbury Street II Acquisition Corp – Class A Ordinary Shares (NASDAQ:NTWO) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.04 earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Newbury Street II Acquisition Corp – Class A Ordinary Shares

Institutional investors and hedge funds have recently bought and sold shares of the business. Robinson Capital Management LLC increased its stake in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares by 78.7% during the second quarter. Robinson Capital Management LLC now owns 27,250 shares of the company’s stock valued at $290,000 after buying an additional 12,000 shares during the period. T3 Companies LLC bought a new position in shares of Newbury Street II Acquisition Corp – Class A Ordinary Shares during the third quarter valued at approximately $1,182,000. Periscope Capital Inc. purchased a new stake in Newbury Street II Acquisition Corp – Class A Ordinary Shares in the third quarter worth $1,292,000. Sona Asset Management US LLC purchased a new stake in Newbury Street II Acquisition Corp – Class A Ordinary Shares in the first quarter worth $1,764,000. Finally, Wealthspring Capital LLC purchased a new stake in Newbury Street II Acquisition Corp – Class A Ordinary Shares in the third quarter worth $4,751,000.

About Newbury Street II Acquisition Corp – Class A Ordinary Shares

Newbury Street II Acquisition Corp. is a special purpose acquisition company (SPAC), also known as a blank-check company. It was formed to pursue a merger, share exchange, asset acquisition, or other business combination with one or more operating businesses. Unlike an operating company, Newbury Street II does not offer products or services of its own. Its business activity centers on identifying and evaluating a potential target and, if a suitable transaction is completed, combining with that business.