Horizon Space Acquisition II Corp. (NASDAQ:HSPT) Short Interest Update

Horizon Space Acquisition II Corp. (NASDAQ:HSPT) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 2,801 shares, a drop of 55.2% from the May 14th total of 6,259 shares. Based on an average daily volume of 13,531 shares, the short-interest ratio is currently 0.2 days.

Horizon Space Acquisition II Trading Down 18.2%

HSPT traded down $1.06 during midday trading on Monday, hitting $4.75. The company had a trading volume of 772,377 shares, compared to its average volume of 29,455. The stock’s 50 day simple moving average is $8.42. Horizon Space Acquisition II has a 52 week low of $3.59 and a 52 week high of $14.31.

Horizon Space Acquisition II (NASDAQ:HSPT) last issued its earnings results on Wednesday, May 20th. The company reported $0.07 EPS for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Horizon Space Acquisition II in a research note on Friday, May 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On Horizon Space Acquisition II

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Horizon Space Acquisition II during the fourth quarter worth approximately $52,000. Clear Street Group Inc. grew its position in Horizon Space Acquisition II by 22.5% in the 4th quarter. Clear Street Group Inc. now owns 47,072 shares of the company’s stock valued at $496,000 after purchasing an additional 8,632 shares during the period. L1 Global Manager Pty Ltd bought a new stake in Horizon Space Acquisition II during the 4th quarter valued at $1,582,000. Finally, Rivernorth Capital Management LLC increased its stake in Horizon Space Acquisition II by 38.6% during the 4th quarter. Rivernorth Capital Management LLC now owns 592,400 shares of the company’s stock valued at $6,244,000 after purchasing an additional 165,000 shares in the last quarter.

Horizon Space Acquisition II Company Profile

We are a blank check company incorporated in the Cayman Islands on March 21, 2023 as an exempted company with limited liability (meaning that our public shareholders have no liability, as shareholders of our company, for the liabilities of our company over and above the amount paid for their shares). We were formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities, which we refer to as a “target business.” Our efforts to identify a prospective target business will not be limited to a particular industry or geographic location.