SPACSphere Acquisition Corp. (NASDAQ:SSAC) Stock Short Interest Declines 44.1%

SPACSphere Acquisition Corp. (NASDAQ:SSAC) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 13,072 shares, a decline of 44.1% from the August 31st total of 23,390 shares. Based on an average daily volume of 47,955 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On SPACSphere Acquisition

A hedge fund recently bought a new stake in SPACSphere Acquisition stock. Harraden Circle Investments LLC acquired a new stake in shares of SPACSphere Acquisition Corp. (NASDAQ:SSAC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,089,230 shares of the company’s stock, valued at approximately $20,851,000. SPACSphere Acquisition makes up about 2.1% of Harraden Circle Investments LLC’s holdings, making the stock its 16th biggest position. Harraden Circle Investments LLC owned 11.42% of SPACSphere Acquisition at the end of the most recent quarter.

SPACSphere Acquisition Price Performance

NASDAQ:SSAC traded up $0.01 on Wednesday, reaching $10.13. The company’s stock had a trading volume of 735 shares, compared to its average volume of 109,923. The stock has a 50 day moving average price of $10.08 and a 200 day moving average price of $9.99. SPACSphere Acquisition has a 12-month low of $9.85 and a 12-month high of $10.13.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of SPACSphere Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

About SPACSphere Acquisition

SPACSphere Acquisition Corp is a blank check company.