Pyrophyte Acquisition Corp. II (NYSE:PAII) Trading Down 0% – Here’s Why

Pyrophyte Acquisition Corp. II (NYSE:PAII)’s share price was down 0% during mid-day trading on Thursday . The stock traded as low as $10.12 and last traded at $10.1150. Approximately 5,652 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 102,269 shares. The stock had previously closed at $10.12.

Analyst Upgrades and Downgrades

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

Pyrophyte Acquisition Corp. II Stock Down 0.0%

The stock’s 50-day simple moving average is $10.04.

Hedge Funds Weigh In On Pyrophyte Acquisition Corp. II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP acquired a new stake in Pyrophyte Acquisition Corp. II in the third quarter valued at approximately $6,816,000. Westchester Capital Management LLC bought a new position in shares of Pyrophyte Acquisition Corp. II during the 4th quarter valued at $2,515,000. First Trust Capital Management L.P. acquired a new stake in shares of Pyrophyte Acquisition Corp. II in the 3rd quarter valued at $2,490,000. Mercuria Capital Strategies LLC bought a new stake in Pyrophyte Acquisition Corp. II in the fourth quarter worth $2,515,000. Finally, Lineage Point Capital LP acquired a new position in Pyrophyte Acquisition Corp. II during the fourth quarter worth $733,000.

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.