Spark I Acquisition Corporation (NASDAQ:SPKL) Short Interest Up 31,990.0% in May

by · The Cerbat Gem

Spark I Acquisition Corporation (NASDAQ:SPKL – Get Free Report) saw a significant increase in short interest in May. As of May 15th, there was short interest totaling 35,299 shares, an increase of 31,990.0% from the April 30th total of 110 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average trading volume of 30,246 shares, the short-interest ratio is currently 1.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Spark I Acquisition in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Get Our Latest Analysis on SPKL

Spark I Acquisition Stock Down 0.5%

Shares of NASDAQ:SPKL traded down $0.06 during trading hours on Wednesday, hitting $12.05. 40,815 shares of the company’s stock traded hands, compared to its average volume of 15,778. The business has a fifty day moving average price of $11.54 and a 200-day moving average price of $11.37. Spark I Acquisition has a 1 year low of $10.84 and a 1 year high of $12.59.

Spark I Acquisition (NASDAQ:SPKL – Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.01) earnings per share for the quarter.

Hedge Funds Weigh In On Spark I Acquisition

A number of large investors have recently made changes to their positions in SPKL. Radcliffe Capital Management L.P. acquired a new position in shares of Spark I Acquisition during the second quarter worth $531,000. Clear Street Group Inc. acquired a new position in shares of Spark I Acquisition in the third quarter worth about $323,000. Finally, Berkley W R Corp acquired a new position in shares of Spark I Acquisition during the 4th quarter worth about $749,000. 34.90% of the stock is owned by institutional investors and hedge funds.

Spark I Acquisition Company Profile

(Get Free Report)

Spark I Acquisition Corp. is a Delaware-incorporated special purpose acquisition company (SPAC) listed on the NASDAQ under the ticker SPKL. Formed in 2020, the company has no commercial operations of its own and was established to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank check company, Spark I Acquisition holds funds in trust until it identifies and completes a business combination target.

The company’s primary focus is on identifying high-growth businesses, with an emphasis on sectors such as technology, industrials and consumer products.

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