Andretti Acquisition Corp. II (NASDAQ:POLE) Stock Price Up 0.4% - Here's Why

Key Points

• Andretti Acquisition Corp. II (NASDAQ:POLE) saw its stock price rise by 0.4% to $10.50, with trading volume increasing by 88% compared to the average daily volume.
• Weiss Ratings reaffirmed a "sell (d-)" rating for the stock, highlighting a consensus rating of "Sell" from analysts.
• Significant institutional investment changes occurred, including Clear Street LLC increasing its holdings by 61,656.5% and several other firms acquiring new stakes valued between $415,000 and $2.4 million.

Shares of Andretti Acquisition Corp. II (NASDAQ:POLE - Get Free Report) rose 0.4% during trading on Wednesday . The stock traded as high as $10.50 and last traded at $10.50. Approximately 2,056 shares traded hands during mid-day trading, an increase of 88% from the average daily volume of 1,093 shares. The stock had previously closed at $10.46.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Andretti Acquisition Corp. II in a research report on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of "Sell".

Andretti Acquisition Corp. II Stock Performance

The stock has a fifty day simple moving average of $10.44 and a 200-day simple moving average of $10.34.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clear Street LLC lifted its holdings in shares of Andretti Acquisition Corp. II by 61,656.5% during the second quarter. Clear Street LLC now owns 14,204 shares of the company's stock valued at $147,000 after acquiring an additional 14,181 shares during the period. Sandia Investment Management LP acquired a new stake in shares of Andretti Acquisition Corp. II in the second quarter valued at $415,000. Whitebox Advisors LLC acquired a new stake in shares of Andretti Acquisition Corp. II in the second quarter valued at $2,076,000. Radcliffe Capital Management L.P. acquired a new stake in shares of Andretti Acquisition Corp. II in the second quarter valued at $2,386,000. Finally, Gritstone Asset Management LLC increased its stake in shares of Andretti Acquisition Corp. II by 429.6% in the first quarter. Gritstone Asset Management LLC now owns 241,691 shares of the company's stock valued at $2,448,000 after buying an additional 196,051 shares in the last quarter.

Andretti Acquisition Corp. II Company Profile

Andretti Acquisition Corp. II is a blank check company. It formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Andretti Acquisition Corp. II is based in INDIANAPOLIS, IN.

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