Short Interest in Spark I Acquisition Co. (NASDAQ:SPKLU) Expands By 32,750.0%

Spark I Acquisition Co. (NASDAQ:SPKLU) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 657 shares, an increase of 32,750.0% from the April 30th total of 2 shares. Based on an average daily trading volume, of 211 shares, the days-to-cover ratio is currently 3.1 days.

Hedge Funds Weigh In On Spark I Acquisition

An institutional investor recently bought a new position in Spark I Acquisition stock. Clear Street Group Inc. acquired a new stake in Spark I Acquisition Co. (NASDAQ:SPKLU) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,973 shares of the company’s stock, valued at approximately $193,000.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed 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, Based on data from MarketBeat, Spark I Acquisition has a consensus rating of “Sell”.

Spark I Acquisition Stock Performance

Shares of SPKLU stock remained flat at $12.55 during midday trading on Wednesday. The company’s stock had a trading volume of 435 shares, compared to its average volume of 1,087. The company has a 50-day simple moving average of $11.90 and a 200 day simple moving average of $11.67. Spark I Acquisition has a 1 year low of $11.32 and a 1 year high of $15.50.

Spark I Acquisition Company Profile

Spark I Acquisition Corp. is a special purpose acquisition company (SPAC) formed to effectuate a merger, capital stock exchange, asset acquisition or similar business combination with one or more businesses. The company executed its initial public offering in late 2020 under the ticker SPKLU on the Nasdaq Stock Market. As a blank-check vehicle, Spark I Acquisition does not currently conduct operations of its own but seeks to identify and combine with a target company that offers substantial growth potential and strategic alignment with its investment criteria.

The SPAC is sponsored by Spark Impact, an asset management and investment firm known for integrating environmental, social and governance (ESG) principles into its investment process.