Maywood Acquisition Corp. (NASDAQ:IPEX) Sees Large Increase in Short Interest

Maywood Acquisition Corp. (NASDAQ:IPEX) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 3,494 shares, an increase of 58.8% from the August 15th total of 2,200 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 6,422 shares, the short-interest ratio is presently 0.5 days.

Maywood Acquisition Stock Performance

Shares of IPEX traded up $0.80 during trading hours on Thursday, hitting $10.68. 25,518 shares of the company were exchanged, compared to its average volume of 25,558. The firm’s 50 day moving average is $10.25 and its 200-day moving average is $10.37. Maywood Acquisition has a 52 week low of $6.00 and a 52 week high of $12.11.

Maywood Acquisition (NASDAQ:IPEX) last released its quarterly earnings results on Friday, August 14th. The company reported $0.03 EPS for the quarter.

Hedge Funds Weigh In On Maywood Acquisition

A hedge fund recently bought a new stake in Maywood Acquisition stock. Radcliffe Capital Management L.P. bought a new stake in shares of Maywood Acquisition Corp. (NASDAQ:IPEX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 112,061 shares of the company’s stock, valued at approximately $1,152,000. Radcliffe Capital Management L.P. owned 0.94% of Maywood Acquisition as of its most recent SEC filing.

Analyst Ratings Changes

Several research firms recently weighed in on IPEX. Weiss Ratings lowered Maywood Acquisition from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. Benchmark began coverage on Maywood Acquisition in a research report on Tuesday, August 4th. They set a “buy” rating and a $14.00 price objective for the company. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Maywood Acquisition currently has an average rating of “Hold” and an average price target of $14.00.

About Maywood Acquisition

Maywood Acquisition Corporation is a special purpose acquisition company (SPAC) formed to identify and complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses.

As a blank check company, Maywood Acquisition does not have significant ongoing operating activities, products or services of its own. Its activities primarily involve evaluating potential acquisition targets and pursuing a transaction that would result in a combined operating company.

The company’s filings should be consulted for the latest information regarding its proposed business combination, management team and geographic focus.