Pyrophyte Acquisition Corp. II (NYSE:PAII) Trading Down 0% – Here’s What Happened

Pyrophyte Acquisition Corp. II (NYSE:PAII)’s stock price fell 0% on Thursday . The company traded as low as $10.12 and last traded at $10.1150. 5,652 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 102,269 shares. The stock had previously closed at $10.12.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Pyrophyte Acquisition Corp. II in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Pyrophyte Acquisition Corp. II currently has an average rating of “Sell”.

Pyrophyte Acquisition Corp. II Stock Performance

The stock has a 50-day simple moving average of $10.04.

Institutional Trading of Pyrophyte Acquisition Corp. II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP bought a new position in Pyrophyte Acquisition Corp. II in the 3rd quarter worth approximately $6,816,000. Westchester Capital Management LLC bought a new stake in shares of Pyrophyte Acquisition Corp. II in the fourth quarter valued at approximately $2,515,000. First Trust Capital Management L.P. acquired a new stake in shares of Pyrophyte Acquisition Corp. II in the third quarter worth $2,490,000. Mercuria Capital Strategies LLC bought a new position in Pyrophyte Acquisition Corp. II during the fourth quarter worth $2,515,000. Finally, Lineage Point Capital LP acquired a new position in Pyrophyte Acquisition Corp. II during the 4th quarter valued at $733,000.

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.