Pyrophyte Acquisition Corp. II (NYSE:PAII) Stock Price Down 0% - Here's What Happened

Key Points

• PAII shares were essentially flat at about $10.16 on Tuesday but traded only ~101 shares, roughly 99% below its average daily volume, with a low of $10.16 and last trade $10.1550.
• Analyst sentiment is negative: Weiss Ratings reaffirmed a Sell, and MarketBeat shows a consensus rating of "Sell".
• Several institutions have recently initiated positions in the SPAC (FTAC Parnassus Acquisition II Ltd), including Cantor Fitzgerald (about $726k) and other buyers such as Virtu, ABC Arbitrage, Deltec and Wolverine, while the company continues to hold IPO proceeds in trust.

Pyrophyte Acquisition Corp. II (NYSE:PAII - Get Free Report) shares were down 0% during trading on Tuesday . The company traded as low as $10.16 and last traded at $10.1550. Approximately 101 shares changed hands during trading, a decline of 99% from the average daily volume of 14,449 shares. The stock had previously closed at $10.16.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (e)" rating on shares of Pyrophyte Acquisition Corp. II in a research report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of "Sell".

Pyrophyte Acquisition Corp. II Trading Down 0.0%

The business has a 50-day simple moving average of $10.13 and a 200 day simple moving average of $10.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wolverine Asset Management LLC bought a new position in shares of Pyrophyte Acquisition Corp. II in the 4th quarter worth approximately $88,000. Deltec Asset Management LLC bought a new position in shares of Pyrophyte Acquisition Corp. II in the 3rd quarter worth approximately $100,000. ABC Arbitrage SA bought a new position in shares of Pyrophyte Acquisition Corp. II in the 4th quarter worth approximately $252,000. Virtu Financial LLC bought a new position in shares of Pyrophyte Acquisition Corp. II in the 4th quarter worth approximately $258,000. Finally, Cantor Fitzgerald L. P. bought a new position in shares of Pyrophyte Acquisition Corp. II in the 3rd quarter worth approximately $726,000.

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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