Legato Merger Corp. II (NASDAQ:LGTO – Get Rating) saw a large growth in short interest during the month of December. As of December 30th, there was short interest totalling 7,400 shares, a growth of 57.4% from the December 15th total of 4,700 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 54,200 shares, the short-interest ratio is currently 0.1 days.
Analyst Upgrades and Downgrades
Separately, DA Davidson assumed coverage on shares of Legato Merger Corp. II in a research report on Monday, November 14th. They set a “buy” rating and a $13.00 price target for the company.
Institutional Trading of Legato Merger Corp. II
A number of large investors have recently added to or reduced their stakes in the business. State Street Corp purchased a new stake in Legato Merger Corp. II in the 3rd quarter worth approximately $110,000. Mangrove Partners bought a new stake in Legato Merger Corp. II in the third quarter valued at about $4,970,000. Fir Tree Capital Management LP increased its stake in Legato Merger Corp. II by 178.7% in the third quarter. Fir Tree Capital Management LP now owns 623,900 shares of the company’s stock valued at $6,195,000 after acquiring an additional 400,000 shares during the period. First Trust Capital Management L.P. grew its stake in Legato Merger Corp. II by 131.3% during the third quarter. First Trust Capital Management L.P. now owns 2,140,325 shares of the company’s stock worth $21,275,000 after buying an additional 1,215,000 shares during the last quarter. Finally, Shaolin Capital Management LLC acquired a new position in shares of Legato Merger Corp. II during the third quarter worth approximately $2,523,000.
Legato Merger Corp. II Stock Performance
About Legato Merger Corp. II
Legato Merger Corp. II does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. It intends to focus on businesses in the infrastructure, engineering and construction, industrial, and renewables industries.
- Get a free copy of the StockNews.com research report on Legato Merger Corp. II (LGTO)
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