Gesher Acquisition Corp. II (NASDAQ:GSHR) Shares Down 0.1% - Here's What Happened

Key Points

• Gesher Acquisition Corp. II shares fell 0.1% to about $10.60 in midday trading, with volume down 73% from its average.
• The stock carries a consensus “Sell” rating from one analyst, although Weiss Ratings modestly upgraded it from “sell (d-)” to “sell (d).”
• Sona Asset Management acquired 174,729 shares valued at approximately $1.81 million, representing about 0.85% of the SPAC.

Gesher Acquisition Corp. II (NASDAQ:GSHR - Get Free Report) shares were down 0.1% during mid-day trading on Friday. The company traded as low as $10.60 and last traded at $10.6010. Approximately 6,467 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 23,855 shares. The stock had previously closed at $10.61.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Gesher Acquisition Corp. II from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday, August 20th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus rating of "Sell".

Gesher Acquisition Corp. II Stock Down 0.1%

The business's fifty day simple moving average is $10.56 and its two-hundred day simple moving average is $10.47.

Gesher Acquisition Corp. II (NASDAQ:GSHR - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.05 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Gesher Acquisition Corp. II

A hedge fund recently bought a new stake in Gesher Acquisition Corp. II stock. Sona Asset Management US LLC acquired a new position in shares of Gesher Acquisition Corp. II (NASDAQ:GSHR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 174,729 shares of the company's stock, valued at approximately $1,810,000. Sona Asset Management US LLC owned approximately 0.85% of Gesher Acquisition Corp. II at the end of the most recent quarter.

About Gesher Acquisition Corp. II

Gesher Acquisition Corp. II is a special purpose acquisition company (SPAC) incorporated to identify and complete a business combination, such as a merger, capital stock exchange, asset acquisition, or similar transaction, with one or more operating businesses.

As a blank-check company, Gesher Acquisition Corp. II does not operate a conventional business and does not manufacture products or provide services to customers. Its activities are focused on evaluating potential acquisition targets and completing a transaction that would result in a publicly traded operating company.

The company is listed on the Nasdaq under the symbol GSHR.

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