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

Maywood Acquisition Corp. (NASDAQ:IPEX) saw a significant increase in short interest in the month of 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. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 78,416 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of Maywood Acquisition

An institutional investor recently bought a new stake in Maywood Acquisition stock. Radcliffe Capital Management L.P. bought a new position in Maywood Acquisition Corp. (NASDAQ:IPEX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 approximately 0.94% of Maywood Acquisition as of its most recent filing with the Securities and Exchange Commission (SEC).

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IPEX shares. Weiss Ratings upgraded shares of Maywood Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday. Benchmark assumed coverage on shares of Maywood Acquisition in a research note on Tuesday, August 4th. They issued a “buy” rating and a $14.00 price target for the company. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.00.

Maywood Acquisition Stock Down 57.8%

IPEX stock traded down $4.32 on Friday, reaching $3.16. 756,476 shares of the company traded hands, compared to its average volume of 69,088. The firm has a fifty day simple moving average of $9.97 and a 200-day simple moving average of $10.28. Maywood Acquisition has a one year low of $2.68 and a one year high of $13.02.

Maywood Acquisition (NASDAQ:IPEX) last released its earnings results 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.