SC II Acquisition Corp. (NASDAQ:SCII) Stock Short Interest Declines 60.4%

SC II Acquisition Corp. (NASDAQ:SCII) was the recipient of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 322 shares, a decrease of 60.4% from the September 15th total of 813 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 32,103 shares, the days-to-cover ratio is currently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of SC II Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

SC II Acquisition Stock Up 0.1%

Shares of NASDAQ SCII traded up $0.01 during midday trading on Wednesday, reaching $10.19. 9 shares of the company were exchanged, compared to its average volume of 69,952. SC II Acquisition has a 1 year low of $9.90 and a 1 year high of $10.18. The company’s fifty day moving average is $10.15.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in SC II Acquisition stock. Harraden Circle Investments LLC bought a new stake in SC II Acquisition Corp. (NASDAQ:SCII) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,897,900 shares of the company’s stock, valued at approximately $29,066,000. SC II Acquisition accounts for approximately 2.9% of Harraden Circle Investments LLC’s investment portfolio, making the stock its 6th largest holding. Harraden Circle Investments LLC owned approximately 16.55% of SC II Acquisition at the end of the most recent reporting period.

About SC II Acquisition

SC II Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. Unlike an operating company, it was established primarily to raise capital through an initial public offering and use those proceeds, together with other funding sources, to pursue a merger, acquisition, stock purchase, reorganization or similar transaction.

The company did not have established commercial products, services or operating business activities of its own.