SIM Acquisition Corp. I (NASDAQ:SIMA) Stock Short Interest Falls 81.8%

SIM Acquisition Corp. I (NASDAQ:SIMA) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 84 shares, a drop of 81.8% from the September 30th total of 461 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 3,526 shares, the days-to-cover ratio is presently 0.0 days.

SIM Acquisition Corp. I Stock Performance

NASDAQ:SIMA traded down $0.01 during mid-day trading on Wednesday, hitting $10.89. The company’s stock had a trading volume of 5,106 shares, compared to its average volume of 38,837. The stock has a fifty day moving average of $10.99 and a 200-day moving average of $10.84. SIM Acquisition Corp. I has a fifty-two week low of $10.10 and a fifty-two week high of $12.90.

SIM Acquisition Corp. I (NASDAQ:SIMA) last issued its earnings results on Friday, August 14th. The company reported $0.02 earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised SIM Acquisition Corp. I from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, SIM Acquisition Corp. I presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SIMA. Sona Asset Management US LLC acquired a new stake in SIM Acquisition Corp. I in the 1st quarter valued at $1,072,000. Berkley W R Corp raised its position in shares of SIM Acquisition Corp. I by 74.9% during the 1st quarter. Berkley W R Corp now owns 912,286 shares of the company’s stock valued at $9,780,000 after buying an additional 390,768 shares in the last quarter. Finally, DLD Asset Management LP bought a new stake in shares of SIM Acquisition Corp. I in the 1st quarter worth approximately $5,375,000.

SIM Acquisition Corp. I Company Profile

SIM Acquisition Corp. I is a special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol SIMA. The company was formed to identify and complete a business combination, such as a merger, stock exchange, asset acquisition, or similar transaction, with one or more operating businesses.

Unlike an operating company, SIM Acquisition Corp. I does not have an established portfolio of products or services and does not conduct substantial commercial activities of its own. Its principal activities are evaluating potential acquisition targets, negotiating a transaction, and pursuing related corporate and regulatory requirements.

Publicly available information about the company’s specific acquisition focus, geographic markets, and leadership is limited.