Archimedes Tech SPAC Partners II (NASDAQ:ATII) Stock Price Up 0.6% – Still a Buy?

Shares of Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) were up 0.6% during trading on Wednesday . The stock traded as high as $10.62 and last traded at $10.61. Approximately 10,096 shares were traded during trading, a decline of 80% from the average daily volume of 51,217 shares. The stock had previously closed at $10.55.

Analyst Ratings Changes

Separately, Weiss Ratings started coverage on Archimedes Tech SPAC Partners II in a report on Monday, January 26th. They issued a “sell (d-)” rating for the company. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Archimedes Tech SPAC Partners II has an average rating of “Sell”.

Archimedes Tech SPAC Partners II Stock Performance

Institutional Investors Weigh In On Archimedes Tech SPAC Partners II

Several institutional investors have recently modified their holdings of ATII. Westchester Capital Management LLC lifted its holdings in Archimedes Tech SPAC Partners II by 0.8% in the fourth quarter. Westchester Capital Management LLC now owns 907,144 shares of the company’s stock valued at $9,398,000 after buying an additional 7,144 shares during the period. Governors Lane LP raised its position in shares of Archimedes Tech SPAC Partners II by 1.1% during the 4th quarter. Governors Lane LP now owns 758,617 shares of the company’s stock valued at $7,859,000 after acquiring an additional 8,617 shares during the last quarter. Meteora Capital LLC lifted its stake in shares of Archimedes Tech SPAC Partners II by 10.5% in the 4th quarter. Meteora Capital LLC now owns 718,433 shares of the company’s stock valued at $7,443,000 after purchasing an additional 68,533 shares during the period. Radcliffe Capital Management L.P. boosted its position in shares of Archimedes Tech SPAC Partners II by 7.7% in the 4th quarter. Radcliffe Capital Management L.P. now owns 658,322 shares of the company’s stock worth $6,820,000 after purchasing an additional 46,800 shares during the last quarter. Finally, Rivernorth Capital Management LLC boosted its position in shares of Archimedes Tech SPAC Partners II by 25.2% in the 4th quarter. Rivernorth Capital Management LLC now owns 447,750 shares of the company’s stock worth $4,639,000 after purchasing an additional 90,000 shares during the last quarter.

Archimedes Tech SPAC Partners II Company Profile

Archimedes Tech SPAC Partners II (NASDAQ: ATII) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank‑check vehicle, its primary business purpose is to identify, evaluate and complete a business combination, merger, acquisition or other similar transaction that will result in a publicly traded operating company. The company itself does not conduct an independent operating business prior to completing a qualifying transaction.

Like other SPACs, Archimedes Tech SPAC Partners II raises capital through an initial public offering and places the proceeds in a trust account while it pursues potential targets.