In a recent transaction, Rodolfo Jose Gonzalez Caceres, a director at Horizon Space Acquisition I Corp. (NYSE:HSPO), has transferred 1,000 ordinary shares of the company. The transfer was executed on May 13, 2024, and was recorded by the issuer's transfer agent on June 5, 2024. This transaction was part of a securities transfer agreement dated the same as the transaction date, which involved the forgiveness of Mr. Gonzalez Caceres's indebtedness.
Following the completion of this transaction, Mr. Gonzalez Caceres's holdings in Horizon Space Acquisition I Corp. have decreased to 4,000 ordinary shares. Prior to this event, as reported on his Form 3 dated December 31, 2022, he held an aggregate of 5,000 ordinary shares. It is important to note that the transfer of shares to Mr. Angel Colon did not involve any monetary exchange; hence, the price per share was reported as $0.
Investors and followers of Horizon Space Acquisition I Corp. may find this information relevant as it reflects a change in the ownership stake of a key insider within the company. The details of the transfer provide insight into the current equity structure and potential motivations behind the transaction. As of the date of this report, the company has not issued any additional comments regarding the transfer of shares.
InvestingPro Insights
Amidst the recent insider share transfer at Horizon Space Acquisition I Corp. (NYSE:HSPO), it's worth noting that the company's management has been actively involved in share buybacks, as indicated by one of the InvestingPro Tips. Such buybacks often signal management's confidence in the company's future prospects and can be a positive sign for investors. Additionally, HSPO displays a high shareholder yield, which can be appealing to investors looking for companies that prioritize shareholder returns.
From a financial perspective, the latest data from InvestingPro shows HSPO with a market capitalization of $85.92 million and a price-to-earnings (P/E) ratio that stands at 32.59. The adjusted P/E ratio, considering the last twelve months as of Q1 2024, is slightly lower at 29.19. Despite not offering dividends, the company's stock has been stable, generally trading with low price volatility and currently hovering near its 52-week high, priced at 99.91% of this peak.
Investors considering HSPO should be aware of the company's current financial standing. The InvestingPro Fair Value estimate stands at $9.16 USD, which suggests a potential undervaluation based on the previous close price of $10.97 USD. Moreover, the company has been profitable over the last twelve months, which aligns with the positive price total returns seen over various periods, including 6.2% over the past year.
For those interested in a deeper dive into Horizon Space Acquisition I Corp.'s financial health and strategic positioning, there are additional InvestingPro Tips available that discuss aspects such as gross profit margins and short-term obligations. For a limited time, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to these valuable insights. Visit https://www.investing.com/pro/HSPO to explore a total of 8 unique InvestingPro Tips that could further inform your investment decisions.
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