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

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Spark I Acquisition

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

Spark I Acquisition Stock Performance

Shares of NASDAQ:SPKLU traded down $1.30 during midday trading on Friday, hitting $14.03. 16,378 shares of the stock traded hands, compared to its average volume of 1,963. The business’s 50 day moving average is $12.16 and its two-hundred day moving average is $11.85. Spark I Acquisition has a one year low of $11.32 and a one year high of $17.70.

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.