Rivernorth Capital Management LLC Trims Stock Position in Horizon Space Acquisition II Corp. $HSPT

Rivernorth Capital Management LLC trimmed its holdings in Horizon Space Acquisition II Corp. (NASDAQ:HSPT) by 78.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 130,000 shares of the company’s stock after selling 462,400 shares during the period. Rivernorth Capital Management LLC’s holdings in Horizon Space Acquisition II were worth $838,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also 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 4th quarter valued at about $52,000. Clear Street Group Inc. lifted its holdings in shares of Horizon Space Acquisition II by 22.5% during the 4th quarter. Clear Street Group Inc. now owns 47,072 shares of the company’s stock worth $496,000 after acquiring an additional 8,632 shares during the period. Finally, L1 Global Manager Pty Ltd purchased a new position in shares of Horizon Space Acquisition II during the 4th quarter worth about $1,582,000.

Horizon Space Acquisition II Stock Performance

Horizon Space Acquisition II stock opened at $5.80 on Thursday. The stock has a 50-day moving average price of $7.03. Horizon Space Acquisition II Corp. has a 12 month low of $3.59 and a 12 month high of $14.31.

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

Analysts Set New Price Targets

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

About Horizon Space Acquisition II

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.