Spark I Acquisition Corporation (NASDAQ:SPKL) Stock Short Interest Climbs 77.3%

Spark I Acquisition Corporation (NASDAQ:SPKL) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 9,023 shares, a growth of 77.3% from the September 15th total of 5,089 shares. Based on an average trading volume of 22,653 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Spark I Acquisition Price Performance

Shares of NASDAQ SPKL remained flat at $11.58 during mid-day trading on Thursday. Spark I Acquisition has a fifty-two week low of $11.04 and a fifty-two week high of $13.93. The stock has a 50-day simple moving average of $11.58 and a 200 day simple moving average of $11.79.

Institutional Investors Weigh In On Spark I Acquisition

A hedge fund recently raised its stake in Spark I Acquisition stock. Berkley W R Corp raised its stake in shares of Spark I Acquisition Corporation (NASDAQ:SPKL) by 37.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,426 shares of the company’s stock after purchasing an additional 24,860 shares during the period. Berkley W R Corp owned 1.04% of Spark I Acquisition worth $1,025,000 as of its most recent SEC filing. 34.90% of the stock is owned by hedge funds and other institutional investors.

Spark I Acquisition Company Profile

Spark I Acquisition Corporation is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. The company does not operate a commercial business of its own and therefore does not offer products or services to customers.

Its principal activity is evaluating potential merger, acquisition, or similar transactions. Until a transaction is completed, Spark I Acquisition Corporation’s activities generally consist of sourcing and assessing target companies, conducting due diligence, and pursuing the approval and closing requirements associated with a proposed business combination.

The company’s public filings provide limited information about its operating activities, geographic markets, and leadership beyond its role as an acquisition vehicle.