Short Interest in Spark I Acquisition Corporation (NASDAQ:SPKL) Declines By 57.4%

Spark I Acquisition Corporation (NASDAQ:SPKL) was the target of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 101 shares, a drop of 57.4% from the January 15th total of 237 shares. Based on an average daily trading volume, of 692 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 692 shares, the short-interest ratio is presently 0.1 days.

Spark I Acquisition Stock Up 0.0%

SPKL stock traded up $0.00 during mid-day trading on Thursday, reaching $11.38. 333 shares of the company traded hands, compared to its average volume of 668. The company has a fifty day moving average price of $11.29 and a 200-day moving average price of $11.27. Spark I Acquisition has a 52-week low of $10.69 and a 52-week high of $12.01.

Spark I Acquisition (NASDAQ:SPKL) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.05) EPS for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Spark I Acquisition in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Spark I Acquisition has a consensus rating of “Sell”.

Institutional Investors Weigh In On Spark I Acquisition

Hedge funds have recently bought and sold shares of the stock. Wolverine Asset Management LLC raised its position in shares of Spark I Acquisition by 32.2% during the 2nd quarter. Wolverine Asset Management LLC now owns 902,388 shares of the company’s stock valued at $9,836,000 after buying an additional 219,800 shares in the last quarter. Alberta Investment Management Corp purchased a new position in Spark I Acquisition in the second quarter worth $1,635,000. StoneX Group Inc. bought a new position in Spark I Acquisition in the second quarter valued at $700,000. Berkley W R Corp raised its position in Spark I Acquisition by 558.6% during the second quarter. Berkley W R Corp now owns 983,347 shares of the company’s stock valued at $10,718,000 after purchasing an additional 834,049 shares in the last quarter. Finally, Radcliffe Capital Management L.P. purchased a new stake in Spark I Acquisition during the second quarter valued at about $531,000. 34.90% of the stock is currently owned by institutional investors.

About Spark I Acquisition

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.