Spark I Acquisition Corporation (NASDAQ:SPKL) Short Interest Update

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

Spark I Acquisition Price Performance

Spark I Acquisition stock traded up $0.03 during trading hours on Monday, hitting $11.63. 1,404 shares of the stock were exchanged, compared to its average volume of 47,819. The business’s 50-day moving average is $12.16 and its two-hundred day moving average is $11.72. Spark I Acquisition has a 12 month low of $10.90 and a 12 month high of $13.93.

Spark I Acquisition (NASDAQ:SPKL) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.01) EPS for the quarter.

Institutional Trading of Spark I Acquisition

Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new position in shares of Spark I Acquisition in the second quarter valued at about $1,456,000. Berkley W R Corp grew its holdings in Spark I Acquisition by 37.9% during the 1st quarter. Berkley W R Corp now owns 90,426 shares of the company’s stock worth $1,025,000 after acquiring an additional 24,860 shares during the last quarter. Finally, Radcliffe Capital Management L.P. acquired a new stake in Spark I Acquisition in the 2nd quarter valued at about $531,000. 34.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Spark I Acquisition in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Spark I Acquisition has an average rating of “Sell”.

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.