Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Large Decrease in Short Interest

Spark I Acquisition Corporation (NASDAQ:SPKL) was the target of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 110 shares, a decrease of 76.9% from the April 15th total of 477 shares. Based on an average daily trading volume, of 11,537 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

Spark I Acquisition Trading Down 0.4%

Shares of NASDAQ SPKL traded down $0.05 during mid-day trading on Friday, reaching $11.92. 14,837 shares of the company were exchanged, compared to its average volume of 10,228. Spark I Acquisition has a 1 year low of $10.84 and a 1 year high of $12.30. The firm has a 50-day moving average of $11.41 and a 200 day moving average of $11.33.

Spark I Acquisition (NASDAQ:SPKL) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.01) earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Spark I Acquisition in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Spark I Acquisition

A number of hedge funds have recently made changes to their positions in SPKL. Berkley W R Corp purchased a new stake in Spark I Acquisition in the fourth quarter valued at about $749,000. Radcliffe Capital Management L.P. purchased a new stake in Spark I Acquisition in the second quarter valued at about $531,000. Finally, Clear Street Group Inc. purchased a new stake in Spark I Acquisition in the third quarter valued at about $323,000. 34.90% of the stock is currently owned by hedge funds and other institutional investors.

Spark I Acquisition Company Profile

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.