Maywood Acquisition Corp. (NASDAQ:IPEX) Sees Significant Growth in Short Interest

Key Points

• Short interest in Maywood Acquisition surged 105% in June, rising to 1,304 shares as of June 30 from 636 shares two weeks earlier. Despite the jump, short interest remains very low at 0.0% of shares outstanding.
• Analyst sentiment remains bearish, with Weiss Ratings upgrading the stock only from a “sell (d-)” to a “sell (d)” rating. The current consensus rating is still “Sell.”
• The stock traded near its 12-month high at $10.54, matching its yearly peak and slightly above its 50-day moving average of $10.49. The company recently reported quarterly EPS of $0.02 and remains a blank-check firm still seeking a business combination.

Maywood Acquisition Corp. (NASDAQ:IPEX - Get Free Report) saw a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 1,304 shares, an increase of 105.0% from the June 15th total of 636 shares. Based on an average trading volume of 10,446 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Maywood Acquisition from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

Maywood Acquisition Stock Performance

Shares of IPEX traded up $0.01 during midday trading on Wednesday, reaching $10.54. 1,050 shares of the stock were exchanged, compared to its average volume of 14,937. Maywood Acquisition has a twelve month low of $10.08 and a twelve month high of $10.54. The firm has a 50 day moving average of $10.49.

Maywood Acquisition (NASDAQ:IPEX - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported $0.02 EPS for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Maywood Acquisition in the fourth quarter valued at approximately $519,000. Meteora Capital LLC bought a new stake in shares of Maywood Acquisition in the fourth quarter valued at approximately $1,140,000. Radcliffe Capital Management L.P. acquired a new stake in Maywood Acquisition during the fourth quarter worth approximately $1,152,000. Finally, Magnetar Financial LLC acquired a new stake in Maywood Acquisition during the fourth quarter worth approximately $2,565,000.

Maywood Acquisition Company Profile

We are a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities, which we refer to throughout this prospectus as our initial business combination. We have not selected any target business and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any target business regarding an initial business combination with our company.

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