Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Significant Drop in Short Interest

Spark I Acquisition Corporation (NASDAQ:SPKL) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 110 shares, a decrease of 76.9% from the April 15th total of 477 shares. Based on an average daily volume of 11,537 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

Hedge Funds Weigh In On Spark I Acquisition

Large investors have recently bought and sold shares of the company. Clear Street Group Inc. acquired a new position in Spark I Acquisition during the 3rd quarter worth approximately $323,000. Radcliffe Capital Management L.P. acquired a new stake in shares of Spark I Acquisition in the 2nd quarter valued at approximately $531,000. Finally, Berkley W R Corp acquired a new stake in shares of Spark I Acquisition in the 4th quarter valued at approximately $749,000. Institutional investors and hedge funds own 34.90% of the company’s stock.

Spark I Acquisition Trading Down 0.5%

NASDAQ:SPKL traded down $0.06 during trading hours on Wednesday, reaching $11.90. 32,923 shares of the stock were exchanged, compared to its average volume of 21,320. Spark I Acquisition has a twelve month low of $10.84 and a twelve month high of $12.01. The firm has a 50 day moving average of $11.39 and a 200 day moving average of $11.33.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a research note on Friday, March 27th. One 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 Company Profile

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.