Iron Horse Acquisitions II Corp. (NASDAQ:IRHO) Stock Short Interest Report for September

Key Points

• Short interest fell 77.6% in September to 54 shares from 241 shares, representing 0.0% of outstanding stock and a 0.0-day days-to-cover ratio.
• Iron Horse Acquisitions II has a consensus “Sell” rating from one analyst, despite Weiss Ratings upgrading its rating slightly from “sell (e)” to “sell (e+).”
• PenderFund Capital Management increased its position by 158% to 25,800 shares, while IRHO shares recently traded at $10.06 within a 12-month range of $9.85 to $10.14.

Iron Horse Acquisitions II Corp. (NASDAQ:IRHO - Get Free Report) was the recipient of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 54 shares, a decrease of 77.6% from the September 15th total of 241 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 40,867 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Iron Horse Acquisitions II from a "sell (e)" rating to a "sell (e+)" rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has a consensus rating of "Sell".

Institutional Investors 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 position in shares of Iron Horse Acquisitions II Corp. (NASDAQ:IRHO - Free Report) by 158.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,800 shares of the company's stock after buying an additional 15,800 shares during the quarter. PenderFund Capital Management Ltd. owned 0.09% of Iron Horse Acquisitions II worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

Iron Horse Acquisitions II Stock Performance

Shares of IRHO stock traded down $0.01 on Friday, hitting $10.06. The stock had a trading volume of 150,619 shares, compared to its average volume of 59,784. The business has a 50 day moving average of $10.05 and a 200 day moving average of $10.00. Iron Horse Acquisitions II has a 12-month low of $9.85 and a 12-month high of $10.14.

About Iron Horse Acquisitions II

Iron Horse Acquisitions II is a special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol IRHO. Unlike an operating company, it was formed to seek a business combination with an existing private company.

Its primary activities include identifying a potential merger partner, negotiating a transaction and completing a merger, acquisition, capital stock exchange or similar business combination. Iron Horse Acquisitions II does not provide identifiable products or services to customers while it searches for a suitable target.

Because the company's operating business and geographic focus depend on any future transaction, it does not currently have a defined commercial footprint.

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