Crane Harbor Acquisition Corp. II (NASDAQ:CRANU – Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 920 shares, a growth of 155.6% from the April 30th total of 360 shares. Based on an average daily volume of 1,469 shares, the short-interest ratio is currently 0.6 days.
Crane Harbor Acquisition Corp. II Stock Performance
NASDAQ:CRANU traded up $0.01 during mid-day trading on Monday, hitting $10.22. 101 shares of the company traded hands, compared to its average volume of 28,259. The company has a fifty day moving average of $10.16. Crane Harbor Acquisition Corp. II has a one year low of $10.04 and a one year high of $11.23.
Institutional Trading of Crane Harbor Acquisition Corp. II
Several hedge funds have recently bought and sold shares of the stock. Lineage Point Capital LP bought a new stake in Crane Harbor Acquisition Corp. II during the fourth quarter valued at about $3,021,000. Virtu Financial LLC bought a new stake in Crane Harbor Acquisition Corp. II during the fourth quarter valued at about $198,000. Alberta Investment Management Corp bought a new stake in Crane Harbor Acquisition Corp. II during the fourth quarter valued at about $6,039,000. Stoic Point Capital Management LLC bought a new stake in Crane Harbor Acquisition Corp. II during the fourth quarter valued at about $504,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new stake in Crane Harbor Acquisition Corp. II during the fourth quarter valued at about $11,077,000.
About Crane Harbor Acquisition Corp. II
Crane Harbor Acquisition Corp. II (NASDAQ: CRANU) is a special purpose acquisition company (SPAC), commonly referred to as a blank‑check company, that is listed on the Nasdaq stock exchange. As a SPAC, its primary corporate purpose is to raise capital in the public markets through an initial public offering and to use the proceeds to identify, negotiate and complete a business combination with one or more operating companies. The entity itself does not operate commercial businesses; instead, it functions as an acquisition vehicle that brings private companies to the public markets through a merger, acquisition or other business combination.
The company’s activities typically include sourcing potential target companies, conducting due diligence, negotiating transaction terms and structuring the business combination.
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