Twelve Seas Investment Company II (NASDAQ:TWLV) Shares Climb 0.2% - Here's Why

Key Points

• Twelve Seas Investment Company II shares rose 0.2% to about $10.09, despite trading volume falling 90% below its average.
• The stock maintains an overall “Sell” rating; Weiss Ratings upgraded it from “sell (e+)” to “sell (d-),” while one analyst continues to rate it Sell.
• BlueCrest Capital Management acquired 400,000 shares worth roughly $4.0 million, giving it about a 1.71% stake; institutional investors collectively own 7.89% of the SPAC.

Shares of Twelve Seas Investment Company II (NASDAQ:TWLV - Get Free Report) were up 0.2% on Friday. The stock traded as high as $10.07 and last traded at $10.0910. 3,131 shares were traded during mid-day trading, a decline of 90% from the average session volume of 30,992 shares. The stock had previously closed at $10.07.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Twelve Seas Investment Company II from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, October 13th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of "Sell".

Twelve Seas Investment Company II Price Performance

The stock has a market cap of $236.53 million and a price-to-earnings ratio of 84.09. The firm's 50-day moving average is $10.09 and its 200 day moving average is $10.02.

Twelve Seas Investment Company II (NASDAQ:TWLV - Get Free Report) last announced its quarterly earnings results on Monday, August 17th. The company reported $0.06 earnings per share for the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Twelve Seas Investment Company II stock. BlueCrest Capital Management Ltd acquired a new position in Twelve Seas Investment Company II (NASDAQ:TWLV - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 400,000 shares of the company's stock, valued at approximately $3,996,000. BlueCrest Capital Management Ltd owned approximately 1.71% of Twelve Seas Investment Company II at the end of the most recent reporting period. Institutional investors and hedge funds own 7.89% of the company's stock.

Twelve Seas Investment Company II Company Profile

Twelve Seas Investment Company II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Rather than operating a traditional business or selling products and services, the company was established to raise capital through a public offering and use those funds, together with other financing, to acquire or merge with a target business.

The company's activities have primarily consisted of evaluating potential acquisition opportunities, conducting due diligence, negotiating transaction terms and seeking shareholder approval for a proposed business combination.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.