Short Interest in Andretti Acquisition Corp. II (NASDAQ:POLE) Expands By 432.5%

Key Points

• Short interest in Andretti Acquisition Corp. II surged 432.5% in June to 1,246 shares, though that still represents only about 0.0% of the stock and a very low 0.1-day short-interest ratio.
• The stock was essentially flat on the day, rising 0.1% to $10.78 on light volume, near its 50-day and 200-day moving averages and within its recent 52-week range.
• Analysts remain negative on POLE, with Weiss Ratings reaffirming a “sell (d)” rating and MarketBeat showing an overall average rating of “Sell.”

Andretti Acquisition Corp. II (NASDAQ:POLE - Get Free Report) was the target of a large increase in short interest in June. As of June 30th, there was short interest totaling 1,246 shares, an increase of 432.5% from the June 15th total of 234 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily volume of 12,619 shares, the short-interest ratio is presently 0.1 days.

Andretti Acquisition Corp. II Stock Up 0.1%

POLE traded up $0.01 during trading on Friday, hitting $10.78. The company's stock had a trading volume of 2,753 shares, compared to its average volume of 10,903. The business's 50 day simple moving average is $10.74 and its 200-day simple moving average is $10.65. Andretti Acquisition Corp. II has a one year low of $10.38 and a one year high of $10.90.

Andretti Acquisition Corp. II (NASDAQ:POLE - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.06 EPS for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Andretti Acquisition Corp. II in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of "Sell".

Institutional Investors Weigh In On Andretti Acquisition Corp. II

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in shares of Andretti Acquisition Corp. II in the second quarter worth approximately $7,785,000. Cantor Fitzgerald L. P. purchased a new stake in Andretti Acquisition Corp. II in the 4th quarter worth $5,711,000. Aristeia Capital L.L.C. bought a new stake in Andretti Acquisition Corp. II during the fourth quarter valued at about $2,617,000. Radcliffe Capital Management L.P. lifted its position in shares of Andretti Acquisition Corp. II by 107.5% in the third quarter. Radcliffe Capital Management L.P. now owns 477,001 shares of the company's stock valued at $4,989,000 after acquiring an additional 247,159 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Andretti Acquisition Corp. II by 172.6% in the fourth quarter. Toronto Dominion Bank now owns 354,442 shares of the company's stock worth $3,725,000 after acquiring an additional 224,442 shares during the period.

Andretti Acquisition Corp. II Company Profile

Andretti Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering for the purpose of effecting a business combination. The company has no commercial operations of its own but seeks to merge with or acquire a private business with a focus on advanced mobility, high-performance automotive technologies, or related sectors. By leveraging the Andretti brand, it aims to align with firms operating at the intersection of motorsports and cutting-edge vehicle innovation.

The SPAC structure allows Andretti Acquisition Corp.

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