Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Large Decrease in Short Interest

Spark I Acquisition Corporation (NASDAQ:SPKL) was the recipient of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totaling 137 shares, a decrease of 60.7% from the November 30th total of 349 shares. Based on an average daily volume of 6,505 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are short sold. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 6,505 shares, the short-interest ratio is presently 0.0 days.

Spark I Acquisition Trading Up 1.3%

Shares of NASDAQ:SPKL opened at $11.31 on Friday. The stock has a 50-day simple moving average of $11.28 and a 200-day simple moving average of $11.17. Spark I Acquisition has a 1 year low of $10.61 and a 1 year high of $12.01.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Spark I Acquisition in a report on Monday, December 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Trading of Spark I Acquisition

Institutional investors have recently added to or reduced their stakes in the business. Clear Street Group Inc. acquired a new stake in Spark I Acquisition in the 3rd quarter valued at $323,000. Radcliffe Capital Management L.P. acquired a new stake in shares of Spark I Acquisition in the second quarter valued at about $531,000. StoneX Group Inc. purchased a new stake in shares of Spark I Acquisition during the 2nd quarter valued at about $700,000. Alberta Investment Management Corp acquired a new position in Spark I Acquisition during the 2nd quarter worth approximately $1,635,000. Finally, Wolverine Asset Management LLC boosted its holdings in Spark I Acquisition by 32.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 902,388 shares of the company’s stock worth $9,836,000 after acquiring an additional 219,800 shares during the period. 34.90% of the stock is owned by hedge funds and other 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.