SciSparc Ltd. (NASDAQ:SPRC) Sees Significant Drop in Short Interest

SciSparc Ltd. (NASDAQ:SPRC) was the target of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 17,206 shares, a drop of 54.7% from the July 30th total of 37,966 shares. Based on an average daily volume of 92,075 shares, the days-to-cover ratio is presently 0.2 days. Approximately 3.1% of the company’s shares are short sold.

SciSparc Stock Down 0.6%

NASDAQ:SPRC opened at $6.58 on Friday. SciSparc has a 1-year low of $2.98 and a 1-year high of $80.10. The company has a 50-day moving average of $6.04 and a 200 day moving average of $5.83.

Analysts Set New Price Targets

A number of research firms have recently commented on SPRC. Weiss Ratings restated a “sell (e+)” rating on shares of SciSparc in a report on Friday, August 21st. Wall Street Zen upgraded shares of SciSparc to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

SciSparc Company Profile

SciSparc AG is a clinical?stage medical technology company focused on the development and commercialization of extracorporeal shock wave–based neuromodulation devices. Founded in 2016 and headquartered in Switzerland, the company applies proprietary low?intensity shock wave technology to noninvasively stimulate neural tissue. SciSparc completed its initial public offering on the NASDAQ in 2021 under the ticker SPRC, securing funding to advance its clinical pipeline.

The company’s lead product, the TR100 system, delivers transcranial shock wave stimulation (tSWS) designed to target areas of the brain associated with motor control and cognitive function.