Spark I Acquisition Co. (NASDAQ:SPKLU) Sees Large Decrease in Short Interest

Spark I Acquisition Co. (NASDAQ:SPKLU) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 229 shares, a drop of 65.1% from the May 14th total of 657 shares. Based on an average daily trading volume, of 615 shares, the days-to-cover ratio is presently 0.4 days.

Spark I Acquisition Stock Down 8.5%

Shares of SPKLU traded down $1.30 during mid-day trading on Friday, reaching $14.03. 16,378 shares of the stock traded hands, compared to its average volume of 1,963. Spark I Acquisition has a 1 year low of $11.32 and a 1 year high of $17.70. The firm has a fifty day moving average price of $12.16 and a 200 day moving average price of $11.85.

Institutional Trading of Spark I Acquisition

A hedge fund recently bought a new stake in Spark I Acquisition stock. Clear Street Group Inc. purchased a new position in Spark I Acquisition Co. (NASDAQ:SPKLU) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,973 shares of the company’s stock, valued at approximately $193,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

About Spark I Acquisition

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.