Short Interest in Jackson Acquisition Company II (NYSE:JACS) Drops By 23.8%

Key Points

• Short interest fell by 23.8% to 1,552 shares as of March 31, leaving a very low 0.1 days-to-cover and roughly 0.0% of the stock sold short.
• Several institutions established or increased stakes recently, including Mangrove Partners (~$2.9M), Cantor Fitzgerald (~$910k), Readystate (~$519k), ABC Arbitrage (~$156k), and BCK Capital (now 103,311 shares, ~$1.07M).
• Shares trade around $10.56 with 50-/200-day SMAs near $10.52/$10.46, and Weiss Ratings reiterated a Sell (D-), leaving the consensus analyst rating as "Sell".

Jackson Acquisition Company II (NYSE:JACS - Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totaling 1,552 shares, a drop of 23.8% from the March 15th total of 2,037 shares. Based on an average daily volume of 11,808 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company's stock are sold short.

Institutional Trading of Jackson Acquisition Company II

Institutional investors have recently modified their holdings of the stock. ABC Arbitrage SA acquired a new stake in Jackson Acquisition Company II during the 4th quarter worth $156,000. Readystate Asset Management LP acquired a new stake in shares of Jackson Acquisition Company II during the third quarter worth about $519,000. Cantor Fitzgerald L. P. purchased a new stake in shares of Jackson Acquisition Company II in the 3rd quarter valued at about $910,000. BCK Capital Management LP boosted its position in shares of Jackson Acquisition Company II by 3.3% in the 3rd quarter. BCK Capital Management LP now owns 103,311 shares of the company's stock valued at $1,072,000 after purchasing an additional 3,311 shares during the period. Finally, Mangrove Partners IM LLC purchased a new position in Jackson Acquisition Company II during the 3rd quarter worth approximately $2,911,000.

Jackson Acquisition Company II Price Performance

Shares of NYSE JACS opened at $10.56 on Wednesday. The stock's 50-day simple moving average is $10.52 and its 200-day simple moving average is $10.46. Jackson Acquisition Company II has a fifty-two week low of $10.07 and a fifty-two week high of $10.65.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Jackson Acquisition Company II in a research note on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell".

Jackson Acquisition Company II Company Profile

Jackson Acquisition Company II is a special purpose acquisition company (SPAC) listed on the New York Stock Exchange under the ticker JACS. As a blank‐check vehicle, it has no commercial operations of its own but is sponsored by Jackson Square Partners, an investment firm with experience in middle‐market private equity and venture capital. The company's primary objective is to identify, acquire, or merge with one or more businesses that operate in target industries and deliver long‐term value to its shareholders.

The SPAC completed its initial public offering in late 2021, raising capital through a trust account to fund its acquisition strategy.

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