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

Pyrophyte Acquisition Corp. II (NYSE:PAII) fell 0% during mid-day trading on Thursday . The company traded as low as $10.20 and last traded at $10.1950. 5,018 shares traded hands during trading, a decline of 28% from the average session volume of 7,009 shares. The stock had previously closed at $10.20.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of Pyrophyte Acquisition Corp. II in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Pyrophyte Acquisition Corp. II Stock Performance

The stock has a fifty day moving average of $10.16 and a 200-day moving average of $10.10.

Pyrophyte Acquisition Corp. II (NYSE:PAII) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.05 earnings per share for the quarter.

Hedge Funds Weigh In On Pyrophyte Acquisition Corp. II

Several hedge funds have recently modified their holdings of PAII. Two Sigma Investments LP bought a new position in shares of Pyrophyte Acquisition Corp. II in the 3rd quarter valued at about $6,816,000. Cantor Fitzgerald L. P. bought a new stake in shares of Pyrophyte Acquisition Corp. II during the third quarter worth approximately $726,000. First Trust Capital Management L.P. bought a new stake in shares of Pyrophyte Acquisition Corp. II during the third quarter worth approximately $2,490,000. Wolverine Asset Management LLC bought a new stake in shares of Pyrophyte Acquisition Corp. II during the fourth quarter worth approximately $88,000. Finally, ABC Arbitrage SA bought a new stake in shares of Pyrophyte Acquisition Corp. II during the fourth quarter worth approximately $252,000.

Pyrophyte Acquisition Corp. II Company Profile

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.