Twelve Seas Investment Company II (NASDAQ:TWLV) Stock Price Down 0.1% - Should You Sell?

Key Points

• TWLV shares slipped 0.1% to approximately $10.066, with trading volume plunging 96% below the average daily volume.
• Weiss Ratings reaffirmed a “sell (e+)” rating, and the lone analyst covering the stock also rates it Sell, giving the company a consensus Sell rating.
• BlueCrest Capital Management acquired 400,000 shares worth about $4.0 million, while institutional investors collectively own 7.89% of the SPAC.

Shares of Twelve Seas Investment Company II (NASDAQ:TWLV - Get Free Report) were down 0.1% during mid-day trading on Thursday. The company traded as low as $10.08 and last traded at $10.0660. 820 shares were traded during trading, a decline of 96% from the average daily volume of 19,560 shares. The stock had previously closed at $10.08.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Twelve Seas Investment Company II in a research note on Monday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Twelve Seas Investment Company II Trading Down 0.1%

The firm has a market cap of $235.95 million and a PE ratio of 83.88. The stock's 50 day moving average price is $10.06 and its 200 day moving average price is $9.99.

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 (EPS) for the quarter.

Institutional Investors Weigh In On Twelve Seas Investment Company II

An institutional investor recently bought a new position in Twelve Seas Investment Company II stock. BlueCrest Capital Management Ltd purchased a new position in shares of Twelve Seas Investment Company II (NASDAQ:TWLV - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 as of its most recent filing with the Securities and Exchange Commission. 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 was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Unlike an operating corporation, the company did not develop or sell products and services of its own.

The company's primary activities involved raising capital through a public offering, placing the proceeds into a trust account, and evaluating potential merger, acquisition, or similar transactions. Its objective was to combine with a target business and provide that company with access to the public markets.

Twelve Seas Investment Company II was incorporated in the United States and focused on pursuing a suitable transaction rather than serving a specific geographic market.

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