Maywood Acquisition Corp. (NASDAQ:IPEX) Short Interest Up 227.9% in August

Key Points

• Short interest surged 227.9% in August to 2,200 shares, but that represents only 0.0% of shares outstanding and a low days-to-cover ratio of 0.1.
• IPEX shares traded at $10.65, within their 12-month range of $10.15 to $10.70. The company reported quarterly earnings of $0.03 per share.
• Analyst views are mixed: Benchmark initiated coverage with a Buy rating and a $14 price target, while Weiss Ratings reiterated a Sell rating. The overall MarketBeat consensus is Hold, with a $14 average target.

Maywood Acquisition Corp. (NASDAQ:IPEX - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 2,200 shares, an increase of 227.9% from the July 30th total of 671 shares. Based on an average trading volume of 41,208 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company's stock are sold short.

Maywood Acquisition Stock Performance

Shares of IPEX stock traded up $0.05 during mid-day trading on Thursday, hitting $10.65. 3,962 shares of the stock were exchanged, compared to its average volume of 19,958. The firm's fifty day moving average price is $10.53. Maywood Acquisition has a 12-month low of $10.15 and a 12-month high of $10.70.

Maywood Acquisition (NASDAQ:IPEX - Get Free Report) last posted its earnings results on Friday, August 14th. The company reported $0.03 earnings per share for the quarter.

Institutional Investors Weigh In On Maywood Acquisition

Several large investors have recently modified their holdings of IPEX. Virtu Financial LLC acquired a new position in shares of Maywood Acquisition in the 4th quarter valued at $519,000. Meteora Capital LLC acquired a new stake in Maywood Acquisition during the 4th quarter worth $1,140,000. Radcliffe Capital Management L.P. acquired a new stake in Maywood Acquisition during the 4th quarter worth $1,152,000. Finally, Magnetar Financial LLC purchased a new position in Maywood Acquisition during the 4th quarter worth $2,565,000.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IPEX shares. Benchmark started coverage on Maywood Acquisition in a research note on Tuesday, August 4th. They set a "buy" rating and a $14.00 target price for the company. Weiss Ratings reissued a "sell (d)" rating on shares of Maywood Acquisition in a report on Wednesday, August 19th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $14.00.

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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