Armada Acquisition Corp. II (NASDAQ:XRPN) Shares Shorted: Short Interest Up 462.3% in October

Armada Acquisition Corp. II (NASDAQ:XRPN) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 1,926,428 shares, a growth of 462.3% from the September 30th total of 342,627 shares. Based on an average trading volume of 2,847,037 shares, the short-interest ratio is currently 0.7 days. Currently, 6.1% of the shares of the company are short sold.

Armada Acquisition Corp. II Trading Down 0.7%

Shares of XRPN opened at $15.15 on Thursday. The company has a 50-day simple moving average of $14.27 and a 200-day simple moving average of $11.40. Armada Acquisition Corp. II has a 52-week low of $10.10 and a 52-week high of $53.00.

Armada Acquisition Corp. II (NASDAQ:XRPN) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.05 EPS for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Armada Acquisition Corp. II in a research report on Monday, September 28th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

About Armada Acquisition Corp. II

Armada Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to identify and combine with one or more businesses through a merger, share exchange, asset acquisition, or similar transaction. Unlike an operating company, it does not manufacture products or provide commercial services of its own.

The company’s activities are focused primarily on evaluating potential acquisition targets, negotiating a business combination, and completing related financing and regulatory requirements.