Pyrophyte Acquisition Corp. II (NYSE:PAII) Sees Significant Growth in Short Interest

Pyrophyte Acquisition Corp. II (NYSE:PAII) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 311 shares, a growth of 418.3% from the June 15th total of 60 shares. Based on an average daily volume of 20,105 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Pyrophyte Acquisition Corp. II in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Pyrophyte Acquisition Corp. II has a consensus rating of “Sell”.

Hedge Funds Weigh In On Pyrophyte Acquisition Corp. II

Several institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC acquired a new stake in shares of Pyrophyte Acquisition Corp. II in the 4th quarter worth about $88,000. ABC Arbitrage SA acquired a new position in Pyrophyte Acquisition Corp. II during the 4th quarter valued at about $252,000. Virtu Financial LLC bought a new position in Pyrophyte Acquisition Corp. II in the 4th quarter worth about $258,000. Cantor Fitzgerald L. P. bought a new position in Pyrophyte Acquisition Corp. II in the 3rd quarter worth about $726,000. Finally, Lineage Point Capital LP acquired a new stake in shares of Pyrophyte Acquisition Corp. II in the fourth quarter valued at approximately $733,000.

Pyrophyte Acquisition Corp. II Price Performance

Shares of NYSE PAII opened at $10.23 on Friday. Pyrophyte Acquisition Corp. II has a 12-month low of $9.92 and a 12-month high of $10.25. The stock’s 50 day simple moving average is $10.19 and its 200 day simple moving average is $10.12.

Pyrophyte Acquisition Corp. II (NYSE:PAII) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.05 EPS for the quarter.

Pyrophyte Acquisition Corp. II Company Profile

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.