Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Large Decrease in Short Interest

Spark I Acquisition Corporation (NASDAQ:SPKL) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totaling 11,551 shares, a drop of 48.2% from the July 15th total of 22,299 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 42,135 shares, the short-interest ratio is presently 0.3 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Spark I Acquisition in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Spark I Acquisition presently has a consensus rating of “Sell”.

Spark I Acquisition Trading Up 0.2%

NASDAQ SPKL traded up $0.03 during trading hours on Tuesday, hitting $11.63. 1,349 shares of the company’s stock were exchanged, compared to its average volume of 47,846. Spark I Acquisition has a 1-year low of $10.90 and a 1-year high of $13.93. The stock has a 50-day simple moving average of $12.16 and a 200 day simple moving average of $11.72.

Institutional Trading of Spark I Acquisition

Large investors have recently added to or reduced their stakes in the stock. Radcliffe Capital Management L.P. bought a new position in Spark I Acquisition in the 2nd quarter worth approximately $531,000. Berkley W R Corp bought a new position in shares of Spark I Acquisition during the 4th quarter valued at about $749,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of Spark I Acquisition in the 2nd quarter worth approximately $1,456,000. Hedge funds and other institutional investors own 34.90% of the company’s stock.

Spark I Acquisition Company Profile

Spark I Acquisition Corp. is a Delaware-incorporated special purpose acquisition company (SPAC) listed on the NASDAQ under the ticker SPKL. Formed in 2020, the company has no commercial operations of its own and was established to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank check company, Spark I Acquisition holds funds in trust until it identifies and completes a business combination target.

The company’s primary focus is on identifying high-growth businesses, with an emphasis on sectors such as technology, industrials and consumer products.