Horizon Space Acquisition II Corp. (NASDAQ:HSPT) Sees Large Drop in Short Interest

Horizon Space Acquisition II Corp. (NASDAQ:HSPT) was the recipient of a large 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.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Horizon Space Acquisition II

A number of institutional investors and hedge funds have recently made changes to their positions in HSPT. Rivernorth Capital Management LLC grew its stake in shares of Horizon Space Acquisition II by 38.6% in the 4th quarter. Rivernorth Capital Management LLC now owns 592,400 shares of the company’s stock worth $6,244,000 after buying an additional 165,000 shares in the last quarter. L1 Global Manager Pty Ltd purchased a new position in shares of Horizon Space Acquisition II in the 4th quarter worth $1,582,000. Clear Street Group Inc. grew its stake in shares of 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 worth $496,000 after buying an additional 8,632 shares in the last quarter. Finally, Quarry LP purchased a new position in shares of Horizon Space Acquisition II in the 4th quarter worth $52,000.

Horizon Space Acquisition II News Roundup

Here are the key news stories impacting Horizon Space Acquisition II this week:

• Positive Sentiment: Horizon Space Acquisition II completed its business combination with SL BIO Ltd., creating SL Science Holding Limited and providing capital to support development of gamma delta T cell-based therapies for solid tumor indications. Article Title
• Neutral Sentiment: Trading in HSPT was halted multiple times on June 11 and June 12 due to LULD pauses, indicating extreme intraday volatility as investors reacted to the merger and ticker transition.
• Negative Sentiment: The stock’s sharp decline appears tied to the SPAC conversion and the market’s reassessment of value after the deal closed, with repeated halts signaling unstable trading conditions.

Horizon Space Acquisition II Stock Performance

NASDAQ HSPT traded down $5.22 on Friday, reaching $5.80. The company had a trading volume of 772,377 shares, compared to its average volume of 29,455. The stock’s 50 day moving average is $8.42. Horizon Space Acquisition II has a 12 month low of $3.59 and a 12 month high of $14.31.

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