Maywood Acquisition Corp. (NASDAQ:IPEX) Stock Short Interest Rises 867.1%

Maywood Acquisition Corp. (NASDAQ:IPEX) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 33,789 shares, an increase of 867.1% from the August 31st total of 3,494 shares. Based on an average trading volume of 78,416 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the company’s stock are short sold.

Institutional Trading of Maywood Acquisition

A hedge fund recently bought a new stake in Maywood Acquisition stock. Radcliffe Capital Management L.P. purchased a new stake in shares of Maywood Acquisition Corp. (NASDAQ:IPEX) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 112,061 shares of the company’s stock, valued at approximately $1,152,000. Radcliffe Capital Management L.P. owned about 0.94% of Maywood Acquisition at the end of the most recent quarter.

Wall Street Analyst Weigh In

A number of brokerages have commented on IPEX. Weiss Ratings lowered Maywood Acquisition from a “sell (d)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. Benchmark began coverage on Maywood Acquisition in a report on Tuesday, August 4th. They issued a “buy” rating and a $14.00 target price on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

Maywood Acquisition Stock Down 19.6%

Shares of IPEX traded down $1.82 during trading hours on Thursday, reaching $7.48. 40,935 shares of the stock traded hands, compared to its average volume of 66,092. Maywood Acquisition has a 52 week low of $6.00 and a 52 week high of $13.02. The stock has a fifty day simple moving average of $10.12 and a 200 day simple moving average of $10.33.

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

Maywood Acquisition Company Profile

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.