RF Acquisition Corp II (NASDAQ:RFAI) Shares Up 0.4% - Here's Why

Key Points

• RF Acquisition Corp II (NASDAQ:RFAI) shares were up 0.4% to $10.97, but trading was extremely thin at approximately 12 shares versus an average daily volume of 4,174, a near-100% drop in activity.
• Analyst sentiment is negative: Weiss Ratings reissued a Sell (d) rating and MarketBeat shows the company's average rating as Sell.
• Several institutions have recently built positions—Berkley W R Corp owns 937,845 shares (~$10.1M) and other hedge funds added stakes—and the company is a newly formed Singapore-based blank check SPAC (founded Feb. 5, 2024).

RF Acquisition Corp II (NASDAQ:RFAI - Get Free Report)'s stock price was up 0.4% on Wednesday . The stock traded as high as $10.92 and last traded at $10.97. Approximately 12 shares were traded during trading, a decline of 100% from the average daily volume of 4,174 shares. The stock had previously closed at $10.93.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of RF Acquisition Corp II in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of "Sell".

RF Acquisition Corp II Stock Up 0.4%

The company has a fifty day moving average price of $10.93 and a two-hundred day moving average price of $10.83.

Institutional Investors Weigh In On RF Acquisition Corp II

Several hedge funds have recently modified their holdings of RFAI. Radcliffe Capital Management L.P. acquired a new stake in shares of RF Acquisition Corp II during the third quarter worth $323,000. Shaolin Capital Management LLC acquired a new stake in shares of RF Acquisition Corp II during the third quarter worth $940,000. Berkley W R Corp lifted its holdings in shares of RF Acquisition Corp II by 24.2% during the third quarter. Berkley W R Corp now owns 937,845 shares of the company's stock worth $10,072,000 after purchasing an additional 183,030 shares during the period. Susquehanna International Group LLP acquired a new stake in shares of RF Acquisition Corp II during the third quarter worth $132,000. Finally, Clear Street Group Inc. lifted its holdings in shares of RF Acquisition Corp II by 4,466.7% during the fourth quarter. Clear Street Group Inc. now owns 9,179 shares of the company's stock worth $99,000 after purchasing an additional 8,978 shares during the period.

RF Acquisition Corp II Company Profile

RF Acquisition Corp. II operates as a blank check company. It was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company was founded on February 5, 2024, and is headquartered in Singapore.

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