SIM Acquisition Corp. I (NASDAQ:SIMA) Stock Short Interest Declines 88.4%

SIM Acquisition Corp. I (NASDAQ:SIMA) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 461 shares, a decline of 88.4% from the September 15th total of 3,960 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 3,562 shares, the short-interest ratio is currently 0.1 days.

SIM Acquisition Corp. I Price Performance

Shares of SIM Acquisition Corp. I stock traded down $0.45 on Friday, reaching $11.05. The company had a trading volume of 5,013 shares, compared to its average volume of 4,406. The firm’s 50-day moving average price is $10.98 and its two-hundred day moving average price is $10.89. 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 posted its quarterly earnings data on Friday, August 14th. The company reported $0.02 earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Radcliffe Capital Management L.P. raised its stake in shares of SIM Acquisition Corp. I by 5.2% during the fourth quarter. Radcliffe Capital Management L.P. now owns 536,322 shares of the company’s stock worth $5,680,000 after purchasing an additional 26,290 shares during the last quarter. Sona Asset Management US LLC purchased a new stake in SIM Acquisition Corp. I during the first quarter worth approximately $1,072,000. L1 Global Manager Pty Ltd purchased a new stake in SIM Acquisition Corp. I during the 4th quarter worth $2,118,000. Berkley W R Corp increased its holdings in SIM Acquisition Corp. I by 74.9% in the first quarter. Berkley W R Corp now owns 912,286 shares of the company’s stock valued at $9,780,000 after buying an additional 390,768 shares during the last quarter. Finally, DLD Asset Management LP bought a new position in SIM Acquisition Corp. I during the 1st quarter worth $5,375,000.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of SIM Acquisition Corp. I from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

SIM Acquisition Corp. I Company Profile

SIM Acquisition Corp. I (NASDAQ: SIMA) is a special purpose acquisition company, or SPAC. The company was formed to identify and complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses.

Unlike an operating company, SIM Acquisition Corp. I does not manufacture products or provide ongoing commercial services. Its activities are focused on evaluating potential acquisition targets, negotiating a transaction, and completing any related financing or regulatory requirements.

The company’s geographic reach and industry focus are determined by the targets it evaluates and any business combination it may complete.