Short Interest in SciSparc Ltd. (NASDAQ:SPRC) Drops By 61.4%

SciSparc Ltd. (NASDAQ:SPRC) saw a significant decline in short interest in July. As of July 15th, there was short interest totaling 10,052 shares, a decline of 61.4% from the June 30th total of 26,064 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average daily volume of 42,754 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SPRC. Wall Street Zen upgraded SciSparc to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of SciSparc in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, SciSparc has a consensus rating of “Sell”.

SciSparc Price Performance

Shares of SPRC stock opened at $5.33 on Monday. The firm has a 50-day moving average price of $6.49 and a 200 day moving average price of $6.25. SciSparc has a twelve month low of $2.98 and a twelve month high of $80.10.

SciSparc (NASDAQ:SPRC) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($31.60) earnings per share (EPS) for the quarter. The business had revenue of $0.20 million for the quarter.

About SciSparc

SciSparc AG is a clinical?stage medical technology company focused on the development and commercialization of extracorporeal shock wave–based neuromodulation devices. Founded in 2016 and headquartered in Switzerland, the company applies proprietary low?intensity shock wave technology to noninvasively stimulate neural tissue. SciSparc completed its initial public offering on the NASDAQ in 2021 under the ticker SPRC, securing funding to advance its clinical pipeline.

The company’s lead product, the TR100 system, delivers transcranial shock wave stimulation (tSWS) designed to target areas of the brain associated with motor control and cognitive function.