Pyrophyte Acquisition Corp. II (NYSE:PAII) Stock Price Down 0.3% – Time to Sell?

Pyrophyte Acquisition Corp. II (NYSE:PAII) dropped 0.3% on Wednesday . The stock traded as low as $10.13 and last traded at $10.1350. Approximately 490,653 shares were traded during mid-day trading, an increase of 553% from the average daily volume of 75,163 shares. The stock had previously closed at $10.17.

Analysts Set New Price Targets

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

Pyrophyte Acquisition Corp. II Stock Down 0.3%

The firm has a 50 day moving average of $10.03.

Institutional Investors Weigh In On Pyrophyte Acquisition Corp. II

A number of hedge funds have recently made changes to their positions in PAII. ABC Arbitrage SA purchased a new stake in Pyrophyte Acquisition Corp. II during the fourth quarter worth about $252,000. Wolverine Asset Management LLC purchased a new stake in shares of Pyrophyte Acquisition Corp. II during the 4th quarter worth approximately $88,000. First Trust Capital Management L.P. bought a new stake in shares of Pyrophyte Acquisition Corp. II in the 3rd quarter worth approximately $2,490,000. Two Sigma Investments LP bought a new stake in shares of Pyrophyte Acquisition Corp. II in the 3rd quarter worth approximately $6,816,000. Finally, Cantor Fitzgerald L. P. purchased a new position in Pyrophyte Acquisition Corp. II in the third quarter valued at approximately $726,000.

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.