SIM Acquisition Corp. I (NASDAQ:SIMA) Trading 0.5% Higher – Still a Buy?

Shares of SIM Acquisition Corp. I (NASDAQ:SIMA) shot up 0.5% on Friday . The company traded as high as $10.61 and last traded at $10.69. 677 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 17,855 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

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

SIM Acquisition Corp. I Price Performance

The firm has a fifty day moving average of $10.60 and a 200 day moving average of $10.54.

SIM Acquisition Corp. I (NASDAQ:SIMA) last issued its earnings results on Thursday, November 13th. The company reported $0.07 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On SIM Acquisition Corp. I

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC increased its holdings in shares of SIM Acquisition Corp. I by 83.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 723,945 shares of the company’s stock worth $7,630,000 after buying an additional 328,929 shares during the last quarter. BCK Capital Management LP acquired a new position in SIM Acquisition Corp. I in the second quarter valued at approximately $521,000. Alberta Investment Management Corp purchased a new position in SIM Acquisition Corp. I in the second quarter worth approximately $7,822,000. Berkley W R Corp increased its stake in SIM Acquisition Corp. I by 23.5% during the second quarter. Berkley W R Corp now owns 521,518 shares of the company’s stock worth $5,435,000 after acquiring an additional 99,390 shares during the last quarter. Finally, Meteora Capital LLC acquired a new stake in SIM Acquisition Corp. I during the second quarter worth $9,666,000.

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.