Pyrophyte Acquisition Corp. II (NYSE:PAII) Short Interest Update

Key Points

• Short interest in PAII surged to 4,027 shares as of July 15, up 1,194.9% from 311 shares on June 30. Despite the jump, short interest remains very low at 0.0% of shares outstanding and only 0.1 days to cover.
• Analysts remain bearish on Pyrophyte Acquisition Corp. II, with Weiss Ratings reaffirming a “sell (e+)” rating. MarketBeat says the stock currently has a consensus rating of “Sell.”
• PAII traded near its 52-week high at $10.23, essentially flat on the day, with very light volume of just 20 shares. The stock has moved within a tight range between a 1-year low of $9.92 and high of $10.25.

Pyrophyte Acquisition Corp. II (NYSE:PAII - Get Free Report) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 4,027 shares, an increase of 1,194.9% from the June 30th total of 311 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 38,748 shares, the short-interest ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Pyrophyte Acquisition Corp. II in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Pyrophyte Acquisition Corp. II currently has a consensus rating of "Sell".

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Wolverine Asset Management LLC purchased a new position in Pyrophyte Acquisition Corp. II during the 4th quarter worth approximately $88,000. ABC Arbitrage SA acquired a new stake in Pyrophyte Acquisition Corp. II during the fourth quarter worth about $252,000. Virtu Financial LLC acquired a new position in shares of Pyrophyte Acquisition Corp. II in the 4th quarter valued at $258,000. Lineage Point Capital LP acquired a new position in shares of Pyrophyte Acquisition Corp. II in the fourth quarter worth about $733,000. Finally, Sona Asset Management US LLC acquired a new position in Pyrophyte Acquisition Corp. II in the 1st quarter worth about $1,540,000.

Pyrophyte Acquisition Corp. II Stock Up 0.0%

Shares of Pyrophyte Acquisition Corp. II stock traded up $0.01 during trading on Friday, reaching $10.23. The company's stock had a trading volume of 20 shares, compared to its average volume of 27,327. The company has a 50-day simple moving average of $10.21 and a two-hundred day simple moving average of $10.15. Pyrophyte Acquisition Corp. II has a 1-year low of $9.92 and a 1-year high of $10.25.

Pyrophyte Acquisition Corp. II (NYSE:PAII - Get Free Report) last issued its quarterly earnings results on Friday, May 15th. 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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