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

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

SC II Acquisition Stock Performance

Shares of SCII stock opened at $10.19 on Thursday. The firm’s 50-day moving average price is $10.15. SC II Acquisition has a twelve month low of $9.90 and a twelve month high of $10.18.

Hedge Funds Weigh In On SC II Acquisition

A hedge fund recently bought a new stake in SC II Acquisition stock. Harraden Circle Investments LLC acquired a new position in shares of SC II Acquisition Corp. (NASDAQ:SCII) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 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 position. Harraden Circle Investments LLC owned approximately 16.55% of SC II Acquisition at the end of the most recent reporting period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded SC II Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has an average rating of “Sell”.

SC II Acquisition Company Profile

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.