Spark I Acquisition Corporation (NASDAQ:SPKL) Short Interest Down 48.2% in July

Spark I Acquisition Corporation (NASDAQ:SPKL) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 11,551 shares, a decline of 48.2% from the July 15th total of 22,299 shares. Based on an average daily volume of 42,135 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Spark I Acquisition

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Radcliffe Capital Management L.P. purchased a new position in Spark I Acquisition during the second quarter valued at approximately $531,000. Berkley W R Corp purchased a new stake in shares of Spark I Acquisition in the fourth quarter worth $749,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Spark I Acquisition in the second quarter worth $1,456,000. 34.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Spark I Acquisition Stock Down 0.5%

Shares of Spark I Acquisition stock opened at $11.61 on Friday. The stock’s fifty day moving average is $12.16 and its 200 day moving average is $11.72. Spark I Acquisition has a one year low of $10.90 and a one year high of $13.93.

Spark I Acquisition (NASDAQ:SPKL) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.01) 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.