Short Interest in Crane Harbor Acquisition Corp. II (NASDAQ:CRANU) Expands By 155.6%
by Doug Wharley · The Cerbat GemCrane Harbor Acquisition Corp. II (NASDAQ:CRANU – Get Free Report) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 920 shares, an increase of 155.6% from the April 30th total of 360 shares. Based on an average daily trading volume, of 1,469 shares, the short-interest ratio is currently 0.6 days.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Deltec Asset Management LLC bought a new position in shares of Crane Harbor Acquisition Corp. II in the fourth quarter valued at $504,000. Wolverine Asset Management LLC purchased a new position in shares of Crane Harbor Acquisition Corp. II in the 4th quarter worth approximately $1,218,000. ABC Arbitrage SA bought a new position in shares of Crane Harbor Acquisition Corp. II in the fourth quarter valued at approximately $403,000. Wealthspring Capital LLC purchased a new stake in shares of Crane Harbor Acquisition Corp. II during the fourth quarter valued at approximately $2,518,000. Finally, Gabelli Funds LLC purchased a new position in Crane Harbor Acquisition Corp. II in the fourth quarter worth $1,781,000.
Crane Harbor Acquisition Corp. II Price Performance
NASDAQ CRANU remained flat at $10.21 during trading on Friday. 101 shares of the company’s stock were exchanged, compared to its average volume of 28,259. Crane Harbor Acquisition Corp. II has a 52-week low of $10.04 and a 52-week high of $11.23. The business’s 50 day moving average is $10.16.
Crane Harbor Acquisition Corp. II Company Profile
Crane Harbor Acquisition Corp. II (NASDAQ: CRANU) is a special purpose acquisition company (SPAC), commonly referred to as a blank‑check company, that is listed on the Nasdaq stock exchange. As a SPAC, its primary corporate purpose is to raise capital in the public markets through an initial public offering and to use the proceeds to identify, negotiate and complete a business combination with one or more operating companies. The entity itself does not operate commercial businesses; instead, it functions as an acquisition vehicle that brings private companies to the public markets through a merger, acquisition or other business combination.
The company’s activities typically include sourcing potential target companies, conducting due diligence, negotiating transaction terms and structuring the business combination.