SIM Acquisition Corp. I (NASDAQ:SIMA) Shares Down 0.3% – Here’s Why

Shares of SIM Acquisition Corp. I (NASDAQ:SIMA) fell 0.3% during mid-day trading on Friday . The stock traded as low as $10.77 and last traded at $10.6950. 105 shares changed hands during trading, a decline of 100% from the average session volume of 31,276 shares. The stock had previously closed at $10.73.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of SIM Acquisition Corp. I in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

SIM Acquisition Corp. I Price Performance

The business’s 50-day moving average price is $10.64 and its 200-day moving average price is $10.57.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Longfellow Investment Management Co. LLC purchased a new position in shares of SIM Acquisition Corp. I in the third quarter worth $80,000. Citadel Advisors LLC grew its position in SIM Acquisition Corp. I by 22.4% during the third quarter. Citadel Advisors LLC now owns 15,460 shares of the company’s stock valued at $162,000 after buying an additional 2,826 shares during the period. BCK Capital Management LP acquired a new stake in shares of SIM Acquisition Corp. I during the 2nd quarter valued at about $521,000. Shaolin Capital Management LLC acquired a new stake in SIM Acquisition Corp. I in the second quarter valued at approximately $1,042,000. Finally, Sculptor Capital LP purchased a new stake in SIM Acquisition Corp. I in the 2nd quarter worth $1,826,000.

SIM Acquisition Corp. I Company Profile

SIM Acquisition Corp. I is a Delaware?incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Since completing its initial public offering in March 2021, the company has focused on identifying targets in the technology, digital media, sports, entertainment and consumer sectors.

The proceeds from its IPO are held in a trust account pending shareholder approval of its initial business combination.