Twelve Seas Investment Company II (NASDAQ:TWLV) Shares Up 0.2% – Time to Buy?

Shares of Twelve Seas Investment Company II (NASDAQ:TWLV) rose 0.2% during trading on Friday. The company traded as high as $10.07 and last traded at $10.0910. Approximately 3,131 shares traded hands during trading, a decline of 90% from the average session volume of 30,992 shares. The stock had previously closed at $10.07.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Twelve Seas Investment Company II from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Twelve Seas Investment Company II Stock Up 0.2%

The company’s fifty day moving average price is $10.09 and its 200-day moving average price is $10.02. The stock has a market capitalization of $236.53 million and a PE ratio of 84.09.

Twelve Seas Investment Company II (NASDAQ:TWLV) last posted its quarterly earnings results on Monday, August 17th. The company reported $0.06 earnings per share for the quarter.

Institutional Investors Weigh In On Twelve Seas Investment Company II

A hedge fund recently bought a new position in Twelve Seas Investment Company II stock. BlueCrest Capital Management Ltd purchased a new stake in shares of Twelve Seas Investment Company II (NASDAQ:TWLV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 400,000 shares of the company’s stock, valued at approximately $3,996,000. BlueCrest Capital Management Ltd owned approximately 1.71% of Twelve Seas Investment Company II at the end of the most recent reporting period. 7.89% of the stock is currently owned by institutional investors.

About Twelve Seas Investment Company II

Twelve Seas Investment Company II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Rather than operating a traditional business or selling products and services, the company was established to raise capital through a public offering and use those funds, together with other financing, to acquire or merge with a target business.

The company’s activities have primarily consisted of evaluating potential acquisition opportunities, conducting due diligence, negotiating transaction terms and seeking shareholder approval for a proposed business combination.