SIM Acquisition Corp. I (NASDAQ:SIMA) Shares Up 0.5% – Time to Buy?

SIM Acquisition Corp. I (NASDAQ:SIMA) was up 0.5% on Friday . The company traded as high as $10.61 and last traded at $10.69. Approximately 677 shares were traded during trading, a decline of 96% from the average daily volume of 17,855 shares. The stock had previously closed at $10.64.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of SIM Acquisition Corp. I in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat, SIM Acquisition Corp. I presently has a consensus rating of “Sell”.

SIM Acquisition Corp. I Price Performance

The company’s fifty day moving average is $10.60 and its two-hundred day moving average is $10.54.

SIM Acquisition Corp. I (NASDAQ:SIMA) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.07 EPS for the quarter.

Hedge Funds Weigh In On SIM Acquisition Corp. I

Institutional investors have recently bought and sold shares of the company. Longfellow Investment Management Co. LLC purchased a new stake in SIM Acquisition Corp. I during the third quarter worth about $80,000. Citadel Advisors LLC grew its holdings in shares of SIM Acquisition Corp. I by 22.4% in the third quarter. Citadel Advisors LLC now owns 15,460 shares of the company’s stock valued at $162,000 after purchasing an additional 2,826 shares in the last quarter. BCK Capital Management LP acquired a new position in shares of SIM Acquisition Corp. I in the second quarter valued at approximately $521,000. Shaolin Capital Management LLC purchased a new stake in SIM Acquisition Corp. I during the 2nd quarter worth approximately $1,042,000. Finally, Sculptor Capital LP acquired a new stake in SIM Acquisition Corp. I during the 2nd quarter worth approximately $1,826,000.

SIM Acquisition Corp. I Company Profile

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.