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

Spark I Acquisition Corporation (NASDAQ:SPKL) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 14,000 shares, a growth of 636.8% from the September 15th total of 1,900 shares. Based on an average daily trading volume, of 11,300 shares, the short-interest ratio is presently 1.2 days. Approximately 0.2% of the company’s shares are short sold. Approximately 0.2% of the company’s shares are short sold. Based on an average daily trading volume, of 11,300 shares, the short-interest ratio is presently 1.2 days.

Hedge Funds Weigh In On Spark I Acquisition

A number of hedge funds have recently added to or reduced their stakes in SPKL. Wolverine Asset Management LLC boosted its holdings in Spark I Acquisition by 43.4% in the first quarter. Wolverine Asset Management LLC now owns 682,588 shares of the company’s stock worth $7,379,000 after purchasing an additional 206,713 shares during the period. Mizuho Securities USA LLC boosted its holdings in Spark I Acquisition by 137.4% in the first quarter. Mizuho Securities USA LLC now owns 362,265 shares of the company’s stock worth $3,876,000 after purchasing an additional 209,642 shares during the period. Alberta Investment Management Corp acquired a new position in Spark I Acquisition in the second quarter worth $1,635,000. StoneX Group Inc. acquired a new position in Spark I Acquisition in the second quarter worth $700,000. Finally, Berkley W R Corp boosted its holdings in Spark I Acquisition by 558.6% in the second quarter. Berkley W R Corp now owns 983,347 shares of the company’s stock worth $10,718,000 after purchasing an additional 834,049 shares during the period. Institutional investors and hedge funds own 34.90% of the company’s stock.

Spark I Acquisition Stock Down 0.6%

Spark I Acquisition stock opened at $11.60 on Friday. The company has a fifty day moving average price of $11.28 and a two-hundred day moving average price of $11.02. Spark I Acquisition has a 12 month low of $10.51 and a 12 month high of $12.01.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Spark I Acquisition in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Spark I Acquisition Company Profile

Spark I Acquisition Corporation does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar combination with one or more businesses or assets. The company was incorporated in 2021 and is based in Palo Alto, California.