Archimedes Tech SPAC Partners II (NASDAQ:ATII) Shares Up 0.6% – Here’s Why

Archimedes Tech SPAC Partners II Co. (NASDAQ:ATII) shares traded up 0.6% during mid-day trading on Wednesday . The stock traded as high as $10.62 and last traded at $10.61. 10,096 shares were traded during trading, a decline of 80% from the average session volume of 51,217 shares. The stock had previously closed at $10.55.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings began coverage on Archimedes Tech SPAC Partners II in a report on Monday, January 26th. They set a “sell (d-)” rating on the stock. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

Archimedes Tech SPAC Partners II Trading Up 0.6%

Hedge Funds Weigh In On Archimedes Tech SPAC Partners II

Several institutional investors have recently added to or reduced their stakes in the company. StoneX Group Inc. acquired a new position in Archimedes Tech SPAC Partners II in the fourth quarter valued at about $524,000. L1 Global Manager Pty Ltd bought a new position in shares of Archimedes Tech SPAC Partners II in the fourth quarter valued at approximately $2,072,000. Westchester Capital Management LLC boosted its holdings in shares of Archimedes Tech SPAC Partners II by 0.8% in the 4th quarter. Westchester Capital Management LLC now owns 907,144 shares of the company’s stock worth $9,398,000 after acquiring an additional 7,144 shares in the last quarter. Radcliffe Capital Management L.P. grew its position in Archimedes Tech SPAC Partners II by 7.7% during the 4th quarter. Radcliffe Capital Management L.P. now owns 658,322 shares of the company’s stock worth $6,820,000 after acquiring an additional 46,800 shares during the last quarter. Finally, Meteora Capital LLC increased its holdings in Archimedes Tech SPAC Partners II by 10.5% during the 4th quarter. Meteora Capital LLC now owns 718,433 shares of the company’s stock valued at $7,443,000 after purchasing an additional 68,533 shares in the last quarter.

About Archimedes Tech SPAC Partners II

Archimedes Tech SPAC Partners II (NASDAQ: ATII) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank‑check vehicle, its primary business purpose is to identify, evaluate and complete a business combination, merger, acquisition or other similar transaction that will result in a publicly traded operating company. The company itself does not conduct an independent operating business prior to completing a qualifying transaction.

Like other SPACs, Archimedes Tech SPAC Partners II raises capital through an initial public offering and places the proceeds in a trust account while it pursues potential targets.