Short Interest in Pyrophyte Acquisition Corp. II (NYSE:PAII) Drops By 35.8%

Key Points

• Short interest fell 35.8% to 2,250 shares as of August 14, representing approximately 0.0% of PAII’s outstanding shares and just 0.3 days to cover.
• Several institutional investors established new positions, including Westchester Capital Management and Mercuria Capital Strategies, each valued at approximately $2.5 million.
• PAII shares remained near their recent highs at $10.29, while Weiss Ratings upgraded the stock’s rating from “sell (e+)” to “sell (d-)”; the overall analyst consensus remains “Sell.”

Pyrophyte Acquisition Corp. II (NYSE:PAII - Get Free Report) was the target of a large decrease in short interest in August. As of August 14th, there was short interest totaling 2,250 shares, a decrease of 35.8% from the July 30th total of 3,504 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 6,845 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Investors Weigh In On Pyrophyte Acquisition Corp. II

Institutional investors have recently added to or reduced their stakes in the business. Sona Asset Management US LLC acquired a new position in Pyrophyte Acquisition Corp. II in the 1st quarter valued at approximately $1,540,000. Lineage Point Capital LP acquired a new position in shares of Pyrophyte Acquisition Corp. II during the fourth quarter worth $733,000. Virtu Financial LLC bought a new stake in shares of Pyrophyte Acquisition Corp. II in the fourth quarter worth $258,000. Westchester Capital Management LLC bought a new stake in shares of Pyrophyte Acquisition Corp. II in the fourth quarter worth $2,515,000. Finally, Mercuria Capital Strategies LLC acquired a new stake in Pyrophyte Acquisition Corp. II in the fourth quarter valued at $2,515,000.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Pyrophyte Acquisition Corp. II from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 14th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of "Sell".

Pyrophyte Acquisition Corp. II Stock Performance

Shares of PAII stock remained flat at $10.29 during mid-day trading on Tuesday. The stock had a trading volume of 2,518 shares, compared to its average volume of 5,064. The business has a fifty day moving average price of $10.24 and a two-hundred day moving average price of $10.18. Pyrophyte Acquisition Corp. II has a 12-month low of $9.92 and a 12-month high of $10.30.

Pyrophyte Acquisition Corp. II (NYSE:PAII - Get Free Report) last released its quarterly earnings results on Friday, August 14th. The company reported $0.05 earnings per share for the quarter.

About Pyrophyte Acquisition Corp. II

FTAC Parnassus Acquisition II Ltd is a special purpose acquisition company (“SPAC”) formed as an exempted Cayman Islands company and listed on the New York Stock Exchange under the ticker PAII. Like other blank check companies, its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses. Since its initial public offering in early 2021, FTAC Parnassus Acquisition II has held its proceeds in trust pending the identification of a suitable target.

The company is sponsored by FTAC Management LLC in collaboration with Parnassus Investments, a San Francisco–based asset manager known for its long‐term, sustainable‐value approach.

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