Short Interest in Spark I Acquisition Corporation (NASDAQ:SPKL) Rises By 262.9%

Spark I Acquisition Corporation (NASDAQ:SPKL) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 744 shares, an increase of 262.9% from the March 15th total of 205 shares. Based on an average daily volume of 2,681 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Berkley W R Corp bought a new position in shares of Spark I Acquisition in the fourth quarter valued at approximately $749,000. Clear Street Group Inc. bought a new position in shares of Spark I Acquisition in the third quarter valued at approximately $323,000. Finally, Radcliffe Capital Management L.P. bought a new stake in Spark I Acquisition during the second quarter worth approximately $531,000. 34.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Spark I Acquisition in a research report on Friday, March 27th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Spark I Acquisition Trading Up 0.3%

Shares of Spark I Acquisition stock traded up $0.03 on Friday, hitting $11.36. The company had a trading volume of 443 shares, compared to its average volume of 2,386. The business has a 50-day simple moving average of $11.33 and a 200-day simple moving average of $11.36. Spark I Acquisition has a 52 week low of $10.77 and a 52 week high of $12.01.

Spark I Acquisition (NASDAQ:SPKL) last posted its quarterly earnings data on Monday, March 30th. The company reported ($0.01) earnings per share (EPS) for the quarter.

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.