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 September. As of September 15th, there was short interest totaling 33,789 shares, a growth of 867.1% from the August 31st total of 3,494 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average trading volume of 78,416 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Maywood Acquisition

A hedge fund recently bought a new stake in Maywood Acquisition stock. Radcliffe Capital Management L.P. purchased a new stake in Maywood Acquisition Corp. (NASDAQ:IPEX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and 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 approximately 0.94% of Maywood Acquisition as of its most recent SEC filing.

Maywood Acquisition Trading Down 31.2%

Shares of IPEX traded down $2.33 during midday trading on Friday, hitting $5.15. 46,724 shares of the company traded hands, compared to its average volume of 26,262. Maywood Acquisition has a one year low of $6.00 and a one year high of $13.02. The stock has a 50-day moving average of $10.12 and a 200-day moving average of $10.33.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on IPEX shares. Benchmark assumed coverage on shares of Maywood Acquisition in a report on Tuesday, August 4th. They set a “buy” rating and a $14.00 price objective on the stock. Weiss Ratings cut shares of Maywood Acquisition from a “sell (d)” rating to a “sell (d-)” rating in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Maywood Acquisition presently 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.