Andretti Acquisition Corp. II (NASDAQ:POLE) Trading Up 0.4% - Time to Buy?

Key Points

• Andretti Acquisition Corp. II (NASDAQ:POLE) shares increased by 0.4% on Wednesday, trading at $10.50 with a significant jump in trading volume.
• Weiss Ratings has given the stock a "sell (d-)" rating, contributing to an overall average rating of "Sell" according to MarketBeat.
• Several institutional investors, including Alberta Investment Management Corp and Wolverine Asset Management LLC, have made substantial investments in Andretti Acquisition Corp. II during recent quarters.

Shares of Andretti Acquisition Corp. II (NASDAQ:POLE - Get Free Report) were up 0.4% on Wednesday . The company traded as high as $10.50 and last traded at $10.50. Approximately 2,056 shares were traded 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.

Analyst Ratings Changes

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

Andretti Acquisition Corp. II Price Performance

The business has a 50-day simple moving average of $10.44 and a 200 day simple moving average of $10.34.

Institutional Trading of Andretti Acquisition Corp. II

Several institutional investors have recently made changes to their positions in the business. Alberta Investment Management Corp purchased a new stake in shares of Andretti Acquisition Corp. II during the second quarter worth about $20,552,000. Magnetar Financial LLC purchased a new stake in shares of Andretti Acquisition Corp. II during the second quarter worth about $14,532,000. Westchester Capital Management LLC grew its position in shares of Andretti Acquisition Corp. II by 63.2% during the first quarter. Westchester Capital Management LLC now owns 1,161,916 shares of the company's stock worth $11,793,000 after purchasing an additional 450,000 shares in the last quarter. Wolverine Asset Management LLC grew its position in shares of Andretti Acquisition Corp. II by 60.8% during the second quarter. Wolverine Asset Management LLC now owns 1,058,178 shares of the company's stock worth $10,984,000 after purchasing an additional 400,079 shares in the last quarter. Finally, Calamos Advisors LLC purchased a new stake in shares of Andretti Acquisition Corp. II during the first quarter worth about $8,374,000.

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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