Horizon Space Acquisition II Corp. (NASDAQ:HSPT) Short Interest Down 55.2% in May

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 trading volume of 13,531 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Horizon Space Acquisition II

Several institutional investors and hedge funds have recently made changes to their positions in HSPT. Quarry LP acquired a new stake in shares of Horizon Space Acquisition II during the fourth quarter worth $52,000. Clear Street Group Inc. lifted its position in Horizon Space Acquisition II by 22.5% during the fourth 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 acquired a new position in Horizon Space Acquisition II during the fourth quarter valued at $1,582,000. Finally, Rivernorth Capital Management LLC lifted its position in Horizon Space Acquisition II by 38.6% during the fourth 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 during the period.

Key Horizon Space Acquisition II News

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.

Analysts Set New Price Targets

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

Horizon Space Acquisition II Stock Down 47.4%

HSPT stock traded down $5.22 during trading on Friday, hitting $5.80. 772,377 shares of the company’s stock traded hands, compared to its average volume of 29,455. The stock’s fifty day moving average price is $8.42. Horizon Space Acquisition II has a 1 year low of $3.59 and a 1 year high of $14.31.

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