Galata Acquisition Corp. II (NASDAQ:LATA) Trading Up 0.2% – Here’s What Happened

Galata Acquisition Corp. II (NASDAQ:LATA)’s share price was up 0.2% during trading on Thursday . The company traded as high as $10.13 and last traded at $10.13. 20,306 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 37,574 shares. The stock had previously closed at $10.11.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings started coverage on Galata Acquisition Corp. II in a research report on Tuesday, May 26th. They set a “sell (e+)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Galata Acquisition Corp. II Trading Up 0.2%

The company has a 50 day simple moving average of $10.09.

Institutional Investors Weigh In On Galata Acquisition Corp. II

A number of institutional investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. purchased a new stake in Galata Acquisition Corp. II in the 4th quarter valued at about $13,446,000. Picton Mahoney Asset Management bought a new position in shares of Galata Acquisition Corp. II during the 4th quarter worth approximately $9,960,000. Alberta Investment Management Corp purchased a new position in shares of Galata Acquisition Corp. II in the 4th quarter worth approximately $7,221,000. AQR Arbitrage LLC purchased a new position in shares of Galata Acquisition Corp. II in the 4th quarter worth approximately $6,747,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in shares of Galata Acquisition Corp. II in the fourth quarter valued at approximately $5,976,000.

About Galata Acquisition Corp. II

Galata Acquisition Corp. II (NASDAQ: LATA) is a special purpose acquisition company (SPAC), also known as a blank‑check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations with one or more businesses. As a publicly traded acquisition vehicle, the company raises capital through an initial public offering and holds proceeds in trust while seeking an operating company to combine with and take public through the SPAC structure.

The firm’s primary activities are identifying and evaluating potential targets, negotiating definitive agreements for business combinations, and completing the required shareholder approvals and regulatory filings to consummate transactions.