Pyrophyte Acquisition Corp. II (NYSE:PAII) Trading Down 0.3% – What’s Next?

Pyrophyte Acquisition Corp. II (NYSE:PAII) traded down 0.3% during trading on Tuesday . The company traded as low as $10.06 and last traded at $10.0750. 24,770 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 47,803 shares. The stock had previously closed at $10.11.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PAII. Wall Street Zen upgraded shares of Pyrophyte Acquisition Corp. II to a “hold” rating in a research report on Saturday, September 20th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Pyrophyte Acquisition Corp. II in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Pyrophyte Acquisition Corp. II Price Performance

The business’s fifty day moving average is $10.02.

Institutional Investors Weigh In On Pyrophyte Acquisition Corp. II

Several large investors have recently bought and sold shares of the business. Deltec Asset Management LLC bought a new position in Pyrophyte Acquisition Corp. II during the third quarter valued at $100,000. Cantor Fitzgerald L. P. bought a new position in shares of Pyrophyte Acquisition Corp. II in the 3rd quarter valued at about $726,000. First Trust Capital Management L.P. bought a new position in shares of Pyrophyte Acquisition Corp. II in the 3rd quarter valued at about $2,490,000. Finally, Two Sigma Investments LP purchased a new position in Pyrophyte Acquisition Corp. II in the third quarter worth about $6,816,000.

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.