Austerlitz Acquisition Corporation II [NYSE: ASZ] stock went on an upward path that rose over 0.10% on Tuesday, amounting to a one-week price increase of more than 0.20%. The company report on October 3, 2022 that Sponsors Seek Early Liquidation of Austerlitz Acquisition Corporation II.
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Cannae Holdings, Inc. (NYSE: CNNE) and Trasimene Capital Management, sponsors (the “Sponsors”) of Austerlitz Acquisition Corporation II (NYSE: ASZ, or the “Company”), a special purpose acquisition company (“SPAC”), are seeking approval of the Company’s shareholders to redeem its outstanding Class A ordinary shares (the “Public Shares”) for cash held in its trust account prior to December 31, 2022. ASZ expires by its terms on March 2, 2023 (the “24-Month Deadline”). The Sponsors believe that consummation of a suitable merger is highly improbable, and it is therefore in shareholders’ best interests to return the cash in trust within calendar 2022 rather than wait for expiration in 2023.
Since the Company’s IPO, the Sponsors reviewed hundreds of potential merger partners and have had substantive negotiations with dozens of them. Despite these extensive efforts, the Sponsors have not secured and do not seek a merger partner. Some prospective partners did not meet the Sponsors’ investment criteria, and some pursued other strategic options like an IPO or full or partial sale. Some eventually declined to merge with ASZ due to poor stock price performance in the SPAC and IPO markets.
Over the last 12 months, ASZ stock rose by 1.74%.
The market cap for the stock reached $1.96 billion, with 197.14 million shares outstanding and 137.95 million shares in the current float. Compared to the average trading volume of 1.91M shares, ASZ stock reached a trading volume of 16129134 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Austerlitz Acquisition Corporation II [ASZ]:
The Average True Range (ATR) for Austerlitz Acquisition Corporation II is set at 0.02 The Price to Book ratio for the last quarter was 1.48, with the Price to Cash per share for the same quarter was set at 0.00.
ASZ Stock Performance Analysis:
Austerlitz Acquisition Corporation II [ASZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.20. With this latest performance, ASZ shares gained by 1.64% in over the last four-week period, additionally plugging by 1.53% over the last 6 months – not to mention a rise of 1.74% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ASZ stock in for the last two-week period is set at 76.70, with the RSI for the last a single of trading hit 80.14, and the three-weeks RSI is set at 72.87 for Austerlitz Acquisition Corporation II [ASZ]. The present Moving Average for the last 50 days of trading for this stock 9.81, while it was recorded at 9.94 for the last single week of trading, and 9.78 for the last 200 days.
Insight into Austerlitz Acquisition Corporation II Fundamentals:
Return on Equity for this stock inclined to 4.53, with Return on Assets sitting at 4.19.
Austerlitz Acquisition Corporation II’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.
Austerlitz Acquisition Corporation II [ASZ] Insider Position Details
There are presently around $1,277 million, or 93.20% of ASZ stock, in the hands of institutional investors. The top three institutional holders of ASZ stocks are: HGC INVESTMENT MANAGEMENT INC. with ownership of 11,486,621, which is approximately 0% of the company’s market cap and around 0.04% of the total institutional ownership; CITADEL ADVISORS LLC, holding 5,809,817 shares of the stock with an approximate value of $57.75 million in ASZ stocks shares; and EMPYREAN CAPITAL PARTNERS, LP, currently with $53.35 million in ASZ stock with ownership of nearly 4.886% of the company’s market capitalization.
60 institutional holders increased their position in Austerlitz Acquisition Corporation II [NYSE:ASZ] by around 27,093,478 shares. Additionally, 43 investors decreased positions by around 20,550,495 shares, while 53 investors held positions by with 80,837,056 shares. The mentioned changes placed institutional holdings at 128,481,029 shares, according to the latest SEC report filing. ASZ stock had 24 new institutional investments in for a total of 6,931,609 shares, while 15 institutional investors sold positions of 10,637,929 shares during the same period.