Andretti Acquisition Corp. II (NASDAQ:POLE) Sees Large Decline in Short Interest

Key Points

• Short interest fell sharply by 65.5% in August to 200 shares, representing 0.0% of outstanding shares and a short-interest ratio of 0.0 days.
• POLE shares traded down $0.04 to $10.71, near the stock’s 200-day moving average, while Friday’s trading volume was well below average.
• Institutional investors generally increased or initiated positions, but analyst sentiment remained negative: Weiss Ratings reaffirmed a “sell (d)” rating, and the stock has an overall “Sell” rating.

Andretti Acquisition Corp. II (NASDAQ:POLE - Get Free Report) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 200 shares, a decrease of 65.5% from the July 30th total of 579 shares. Currently, 0.0% of the company's shares are short sold. Based on an average trading volume of 68,013 shares, the short-interest ratio is presently 0.0 days.

Andretti Acquisition Corp. II Stock Performance

Shares of POLE stock traded down $0.04 during trading hours on Friday, hitting $10.71. The company had a trading volume of 140 shares, compared to its average volume of 25,244. Andretti Acquisition Corp. II has a fifty-two week low of $10.41 and a fifty-two week high of $10.90. The company's fifty day moving average is $10.79 and its 200 day moving average is $10.71.

Institutional Investors Weigh In On Andretti Acquisition Corp. II

A number of institutional investors have recently modified their holdings of the company. Radcliffe Capital Management L.P. lifted its stake in Andretti Acquisition Corp. II by 0.3% during the 4th quarter. Radcliffe Capital Management L.P. now owns 478,664 shares of the company's stock worth $5,031,000 after acquiring an additional 1,663 shares in the last quarter. Glazer Capital LLC increased its stake in Andretti Acquisition Corp. II by 3.3% during the fourth quarter. Glazer Capital LLC now owns 263,547 shares of the company's stock worth $2,770,000 after purchasing an additional 8,403 shares during the period. HRT Financial LP acquired a new stake in shares of Andretti Acquisition Corp. II during the fourth quarter worth about $113,000. Jain Global LLC lifted its position in shares of Andretti Acquisition Corp. II by 7.0% during the fourth quarter. Jain Global LLC now owns 241,622 shares of the company's stock worth $2,547,000 after purchasing an additional 15,797 shares in the last quarter. Finally, Geode Capital Management LLC purchased a new position in shares of Andretti Acquisition Corp. II in the fourth quarter valued at approximately $207,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Andretti Acquisition Corp. II in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Andretti Acquisition Corp. II presently has an average rating of "Sell".

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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