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

SciSparc Ltd. (NASDAQ:SPRC) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 10,052 shares, a decrease of 61.4% from the June 30th total of 26,064 shares. Based on an average trading volume of 42,754 shares, the days-to-cover ratio is presently 0.2 days. Currently, 1.8% of the company’s shares are short sold.

SciSparc Price Performance

SPRC 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 1 year low of $2.98 and a 1 year high of $80.10.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of SciSparc to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SciSparc in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

SciSparc Company Profile

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.