Jackson Acquisition Company II (NYSE:JACS) Sees Large Decline in Short Interest

Jackson Acquisition Company II (NYSE:JACS) was the target of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 1,370 shares, a decline of 33.9% from the June 30th total of 2,073 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 23,295 shares, the days-to-cover ratio is presently 0.1 days.

Jackson Acquisition Company II Stock Down 0.1%

Shares of JACS stock traded down $0.01 during trading hours on Friday, hitting $10.70. The company’s stock had a trading volume of 2,327 shares, compared to its average volume of 25,611. The company has a 50 day moving average of $10.66 and a 200 day moving average of $10.57. Jackson Acquisition Company II has a 12-month low of $10.25 and a 12-month high of $10.74.

Jackson Acquisition Company II (NYSE:JACS) last issued its earnings results on Friday, March 20th. The company reported $0.08 earnings per share (EPS) for the quarter. The business had revenue of $2.33 million for the quarter.

Institutional Investors Weigh In On Jackson Acquisition Company II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ABC Arbitrage SA acquired a new position in shares of Jackson Acquisition Company II in the 4th quarter valued at about $156,000. Sona Asset Management US LLC acquired a new stake in Jackson Acquisition Company II during the first quarter worth about $2,186,000. Goldman Sachs Group Inc. acquired a new stake in Jackson Acquisition Company II during the first quarter worth about $3,624,000. Berkley W R Corp grew its holdings in Jackson Acquisition Company II by 24.3% during the first quarter. Berkley W R Corp now owns 430,362 shares of the company’s stock worth $4,558,000 after acquiring an additional 84,097 shares during the period. Finally, Radcliffe Capital Management L.P. purchased a new position in Jackson Acquisition Company II during the second quarter valued at approximately $5,532,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Jackson Acquisition Company II in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Jackson Acquisition Company II Company Profile

Jackson Acquisition Company II is a special purpose acquisition company (SPAC) listed on the New York Stock Exchange under the ticker JACS. As a blank‐check vehicle, it has no commercial operations of its own but is sponsored by Jackson Square Partners, an investment firm with experience in middle‐market private equity and venture capital. The company’s primary objective is to identify, acquire, or merge with one or more businesses that operate in target industries and deliver long‐term value to its shareholders.

The SPAC completed its initial public offering in late 2021, raising capital through a trust account to fund its acquisition strategy.