Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Large Decrease in Short Interest
by Mitch Edgeman · The Markets DailySpark I Acquisition Corporation (NASDAQ:SPKL – Get Free Report) saw a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 237 shares, a decline of 26.4% from the December 31st total of 322 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 196 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 196 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.0% of the company’s shares are sold short.
Institutional Investors Weigh In On Spark I Acquisition
Institutional investors have recently added to or reduced their stakes in the stock. Clear Street Group Inc. bought a new position in Spark I Acquisition in the third quarter worth about $323,000. Radcliffe Capital Management L.P. purchased a new stake in Spark I Acquisition during the second quarter valued at approximately $531,000. Berkley W R Corp boosted its stake 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 valued at $10,718,000 after acquiring an additional 834,049 shares in the last quarter. StoneX Group Inc. purchased a new position in Spark I Acquisition in the second quarter worth $700,000. Finally, Alberta Investment Management Corp purchased a new position in Spark I Acquisition in the second quarter worth $1,635,000. Institutional investors own 34.90% of the company’s stock.
Spark I Acquisition Stock Down 0.0%
NASDAQ:SPKL traded down $0.01 during mid-day trading on Tuesday, reaching $11.32. The company’s stock had a trading volume of 236 shares, compared to its average volume of 708. Spark I Acquisition has a 1 year low of $10.68 and a 1 year high of $12.01. The stock has a fifty day moving average of $11.27 and a 200-day moving average of $11.25.
Spark I Acquisition (NASDAQ:SPKL – Get Free Report) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a research note on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Spark I Acquisition currently has a consensus rating of “Sell”.
Read Our Latest Report on SPKL
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.