SIM Acquisition Corp. I (NASDAQ:SIMA) Posts Quarterly Earnings Results

SIM Acquisition Corp. I (NASDAQ:SIMA) released its earnings results on Friday. The company reported $0.07 earnings per share (EPS) for the quarter, FiscalAI reports.

SIM Acquisition Corp. I Stock Performance

Shares of SIM Acquisition Corp. I stock remained flat at $10.71 during midday trading on Friday. 4,946 shares of the stock traded hands, compared to its average volume of 32,674. SIM Acquisition Corp. I has a twelve month low of $10.19 and a twelve month high of $10.78. The company’s fifty day moving average price is $10.68 and its 200 day moving average price is $10.60.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of SIM Acquisition Corp. I in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, SIM Acquisition Corp. I presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Meteora Capital LLC bought a new position in shares of SIM Acquisition Corp. I during the 2nd quarter worth about $9,666,000. Shaolin Capital Management LLC bought a new stake in SIM Acquisition Corp. I in the second quarter valued at $1,042,000. Berkley W R Corp lifted its holdings in shares of SIM Acquisition Corp. I by 23.5% during the second quarter. Berkley W R Corp now owns 521,518 shares of the company’s stock valued at $5,435,000 after acquiring an additional 99,390 shares during the period. Hudson Bay Capital Management LP acquired a new stake in shares of SIM Acquisition Corp. I during the 2nd quarter worth about $3,099,000. Finally, Radcliffe Capital Management L.P. acquired a new position in SIM Acquisition Corp. I in the second quarter valued at about $2,820,000.

About SIM Acquisition Corp. I

SIM Acquisition Corp. I is a Delaware‐incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Since completing its initial public offering in March 2021, the company has focused on identifying targets in the technology, digital media, sports, entertainment and consumer sectors.

The proceeds from its IPO are held in a trust account pending shareholder approval of its initial business combination.