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

Key Points

• Short interest fell to 776 shares as of April 15 (a 19.6% decrease from 965 on March 31), leaving a days-to-cover of 0.1 and effectively 0.0% of the stock sold short.
• Several institutions initiated or added positions in POLE, including TENOR CAPITAL (~$7.8M), Whitebox Advisors (~$2.08M), Radcliffe Capital (~$2.39M), Sandia (~$415k), and Wolverine Asset Management, which grew its stake to about 1,087,579 shares (~$11.38M).
• Weiss Ratings reaffirmed a Sell rating and MarketBeat lists a consensus Sell; shares traded at $10.69 (up $0.01) on relatively light volume.

Andretti Acquisition Corp. II (NASDAQ:POLE - Get Free Report) was the recipient of a significant 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. Currently, 0.0% of the company's stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Andretti Acquisition Corp. II in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell".

Institutional Trading of Andretti Acquisition Corp. II

A number of institutional investors and hedge funds have recently made changes to their positions in POLE. Whitebox Advisors LLC bought a new position in Andretti Acquisition Corp. II in the 2nd quarter worth approximately $2,076,000. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in Andretti Acquisition Corp. II in the 2nd quarter worth approximately $7,785,000. Sandia Investment Management LP bought a new position in Andretti Acquisition Corp. II in the 2nd quarter worth approximately $415,000. Radcliffe Capital Management L.P. bought a new position in Andretti Acquisition Corp. II in the 2nd quarter worth approximately $2,386,000. Finally, Wolverine Asset Management LLC grew its holdings in Andretti Acquisition Corp. II by 2.8% in the 3rd quarter. Wolverine Asset Management LLC now owns 1,087,579 shares of the company's stock worth $11,376,000 after buying an additional 29,401 shares in the last quarter.

Andretti Acquisition Corp. II Stock Up 0.1%

Shares of Andretti Acquisition Corp. II stock traded up $0.01 on Thursday, reaching $10.69. 3,967 shares of the company were exchanged, compared to its average volume of 31,750. The company's 50-day moving average is $10.64 and its two-hundred day moving average is $10.59. Andretti Acquisition Corp. II has a 1-year low of $10.21 and a 1-year high of $10.90.

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

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.

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