Iron Horse Acquisitions II Corp. (NASDAQ:IRHO) Shares Shorted: Short Interest Down 72.5% in September

Iron Horse Acquisitions II Corp. (NASDAQ:IRHO) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 241 shares, a drop of 72.5% from the August 31st total of 877 shares. Based on an average daily volume of 28,449 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are sold short.

Iron Horse Acquisitions II Price Performance

Shares of IRHO remained flat at $10.06 during mid-day trading on Friday. 15 shares of the stock were exchanged, compared to its average volume of 60,000. Iron Horse Acquisitions II has a fifty-two week low of $9.85 and a fifty-two week high of $10.14. The stock’s 50-day simple moving average is $10.03 and its 200-day simple moving average is $10.00.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Iron Horse Acquisitions II from a “sell (e)” rating to a “sell (e+)” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Iron Horse Acquisitions II

A hedge fund recently raised its position in Iron Horse Acquisitions II stock. PenderFund Capital Management Ltd. grew its stake in Iron Horse Acquisitions II Corp. (NASDAQ:IRHO) by 158.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,800 shares of the company’s stock after acquiring an additional 15,800 shares during the quarter. PenderFund Capital Management Ltd. owned about 0.09% of Iron Horse Acquisitions II worth $259,000 at the end of the most recent quarter.

About Iron Horse Acquisitions II

Iron Horse Acquisitions II (NASDAQ: IRHO) is a special purpose acquisition company, or SPAC. The company was formed to identify and complete a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more operating businesses.

Unlike an operating company, Iron Horse Acquisitions II does not manufacture products or provide services through an established business. Its activities primarily involve evaluating potential acquisition targets, conducting due diligence and pursuing a transaction that would allow a target company to become publicly traded.

The company’s filings do not indicate an established geographic operating footprint or a significant operating history independent of its acquisition activities.