Andretti Acquisition Corp. II (NASDAQ:POLE) Trading 0.1% Higher - Time to Buy?

Key Points

• Andretti Acquisition Corp. II (NASDAQ: POLE) was slightly higher in Friday trading, up 0.1% to about $10.78, on volume that was well below average.
• The stock continues to carry a “Sell” consensus, with Weiss Ratings recently reiterating a “sell (d)” rating.
• POLE is a SPAC focused on merging with or acquiring a private company in advanced mobility or related automotive technology sectors, and it recently reported $0.06 EPS for the quarter.

Shares of Andretti Acquisition Corp. II (NASDAQ:POLE - Get Free Report) shot up 0.1% during mid-day trading on Friday . The company traded as high as $10.77 and last traded at $10.7810. 2,753 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 10,903 shares. The stock had previously closed at $10.77.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Andretti Acquisition Corp. II in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Andretti Acquisition Corp. II has a consensus rating of "Sell".

Andretti Acquisition Corp. II Stock Up 0.1%

The stock has a fifty day moving average price of $10.74 and a 200-day moving average price of $10.65.

Andretti Acquisition Corp. II (NASDAQ:POLE - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.06 EPS for the quarter.

Institutional Investors Weigh In On Andretti Acquisition Corp. II

Several institutional investors and hedge funds have recently made changes to their positions in POLE. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new stake in shares of Andretti Acquisition Corp. II during the 2nd quarter worth about $7,785,000. Cantor Fitzgerald L. P. acquired a new position in Andretti Acquisition Corp. II in the fourth quarter valued at about $5,711,000. Radcliffe Capital Management L.P. boosted its position in Andretti Acquisition Corp. II by 0.3% in the fourth quarter. Radcliffe Capital Management L.P. now owns 478,664 shares of the company's stock valued at $5,031,000 after buying an additional 1,663 shares in the last quarter. Berkley W R Corp boosted its position in Andretti Acquisition Corp. II by 9.6% in the first quarter. Berkley W R Corp now owns 462,495 shares of the company's stock valued at $4,923,000 after buying an additional 40,683 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in Andretti Acquisition Corp. II by 172.6% during the fourth quarter. Toronto Dominion Bank now owns 354,442 shares of the company's stock worth $3,725,000 after buying an additional 224,442 shares during the last quarter.

Andretti Acquisition Corp. II Company Profile

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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