Spacsphere Acquisition Corp. (NASDAQ:SSACU) Short Interest Down 47.2% in May

Spacsphere Acquisition Corp. (NASDAQ:SSACU) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totaling 114 shares, a decline of 47.2% from the April 30th total of 216 shares. Based on an average daily trading volume, of 77 shares, the days-to-cover ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut Spacsphere Acquisition from a “hold” rating to a “sell” rating in a report on Saturday, February 28th.

Spacsphere Acquisition Stock Performance

NASDAQ SSACU traded up $0.53 during trading on Monday, reaching $10.68. The company has a fifty day simple moving average of $10.09. Spacsphere Acquisition has a fifty-two week low of $9.95 and a fifty-two week high of $10.15.

Spacsphere Acquisition Company Profile

Spacsphere Acquisition (NASDAQ: SSACU) is a special purpose acquisition company (SPAC) whose units trade on the Nasdaq under the ticker SSACU. As a blank?check company, its primary purpose is to raise capital through public markets and use those proceeds to identify, acquire, or merge with one or more privately held businesses, thereby bringing a target company public through a business combination or reverse merger.

The company’s main activities center on deal sourcing and transaction execution: evaluating potential acquisition targets, negotiating terms of a business combination, and completing the legal and regulatory steps required to consummate a merger.