Armada Acquisition Corp. II (NASDAQ:XRPN) Trading Up 0.1% – Still a Buy?

Armada Acquisition Corp. II (NASDAQ:XRPN)’s share price shot up 0.1% during mid-day trading on Wednesday . The stock traded as high as $10.30 and last traded at $10.30. 18,662 shares traded hands during trading, a decline of 74% from the average session volume of 71,515 shares. The stock had previously closed at $10.29.

Analyst Ratings Changes

Separately, Weiss Ratings initiated coverage on shares of Armada Acquisition Corp. II in a research note on Monday, January 26th. They issued a “sell (e+)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Armada Acquisition Corp. II currently has a consensus rating of “Sell”.

Armada Acquisition Corp. II Stock Up 0.1%

Institutional Investors Weigh In On Armada Acquisition Corp. II

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank bought a new position in shares of Armada Acquisition Corp. II during the 4th quarter worth about $26,000. HRT Financial LP acquired a new position in Armada Acquisition Corp. II during the 4th quarter worth approximately $112,000. Geode Capital Management LLC acquired a new position in Armada Acquisition Corp. II during the 4th quarter worth approximately $155,000. Virtu Financial LLC bought a new position in Armada Acquisition Corp. II in the fourth quarter worth approximately $283,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in Armada Acquisition Corp. II in the fourth quarter valued at approximately $513,000. 27.95% of the stock is owned by institutional investors.

Armada Acquisition Corp. II Company Profile

Armada Acquisition Corp. II (NASDAQ: XRPN) is a special purpose acquisition company (SPAC), commonly known as a blank‑check company, formed to raise capital through an initial public offering for the purpose of effecting a business combination. As a SPAC, the company does not operate an active commercial business; instead, its primary activity is identifying, negotiating and completing a merger, share exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more target companies.

Following its public listing, Armada Acquisition Corp.