Short Interest in SPACSphere Acquisition Corp. (NASDAQ:SSAC) Increases By 681.6%

SPACSphere Acquisition Corp. (NASDAQ:SSAC) was the recipient of a significant increase in short interest in June. As of June 30th, there was short interest totaling 32,083 shares, an increase of 681.6% from the June 15th total of 4,105 shares. Based on an average daily trading volume, of 131,493 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.2% of the company’s shares are short sold.

Analysts Set New Price Targets

Several analysts have issued reports on SSAC shares. Wall Street Zen cut SPACSphere Acquisition from a “hold” rating to a “sell” rating in a report on Friday, March 27th. Weiss Ratings initiated coverage on shares of SPACSphere Acquisition in a research note on Friday, May 29th. They set a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

SPACSphere Acquisition Price Performance

NASDAQ SSAC traded down $0.01 during trading hours on Monday, reaching $10.01. The company had a trading volume of 135 shares, compared to its average volume of 146,071. The firm has a 50-day moving average price of $9.97. SPACSphere Acquisition has a 1-year low of $9.85 and a 1-year high of $10.01.

SPACSphere Acquisition Company Profile

SPACSphere Acquisition Corp is a blank check company.