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

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

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 position in shares of Maywood Acquisition Corp. (NASDAQ:IPEX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Maywood Acquisition Price Performance

IPEX stock opened at $10.68 on Friday. The company’s 50-day moving average price is $10.25 and its 200 day moving average price 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 issued its earnings results on Friday, August 14th. The company reported $0.03 earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on IPEX. Benchmark started coverage on Maywood Acquisition in a research note on Tuesday, August 4th. They issued a “buy” rating and a $14.00 price target on the stock. Weiss Ratings cut Maywood Acquisition from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Maywood Acquisition has an average rating of “Hold” and an average target price 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.