SIM Acquisition Corp. I (NASDAQ:SIMA) Short Interest Up 1,741.6% in May

SIM Acquisition Corp. I (NASDAQ:SIMA) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 15,083 shares, a growth of 1,741.6% from the April 30th total of 819 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 19,037 shares, the days-to-cover ratio is presently 0.8 days.

SIM Acquisition Corp. I Stock Performance

SIMA traded up $0.03 during trading hours on Wednesday, hitting $10.80. 40,050 shares of the company’s stock were exchanged, compared to its average volume of 18,337. The stock’s 50-day moving average is $10.80 and its two-hundred day moving average is $10.69. SIM Acquisition Corp. I has a 1-year low of $10.10 and a 1-year high of $12.90.

SIM Acquisition Corp. I (NASDAQ:SIMA) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.07 EPS for the quarter.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On SIM Acquisition Corp. I

Large investors have recently modified their holdings of the stock. Longfellow Investment Management Co. LLC bought a new position in SIM Acquisition Corp. I during the third quarter worth about $80,000. Citadel Advisors LLC boosted its stake in shares of SIM Acquisition Corp. I by 22.4% in the 3rd quarter. Citadel Advisors LLC now owns 15,460 shares of the company’s stock valued at $162,000 after purchasing an additional 2,826 shares in the last quarter. Sona Asset Management US LLC acquired a new stake in shares of SIM Acquisition Corp. I in the 1st quarter valued at approximately $1,072,000. Shaolin Capital Management LLC acquired a new stake in SIM Acquisition Corp. I during the 2nd quarter worth approximately $1,042,000. Finally, Sculptor Capital LP acquired a new stake in SIM Acquisition Corp. I during the 2nd quarter worth approximately $1,826,000.

About SIM Acquisition Corp. I

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.