Short Interest in SIM Acquisition Corp. I (NASDAQ:SIMA) Expands By 1,741.6%

SIM Acquisition Corp. I (NASDAQ:SIMA) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 15,083 shares, an increase of 1,741.6% from the April 30th total of 819 shares. Based on an average daily volume of 19,037 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the company’s stock are sold short.

Institutional Investors Weigh In On SIM Acquisition Corp. I

Several institutional investors and hedge funds have recently added to or reduced their stakes in SIMA. Shaolin Capital Management LLC acquired a new position in shares of SIM Acquisition Corp. I during the second quarter worth approximately $1,042,000. Hudson Bay Capital Management LP acquired a new position in shares of SIM Acquisition Corp. I in the second quarter valued at $3,099,000. Radcliffe Capital Management L.P. acquired a new position in shares of SIM Acquisition Corp. I in the second quarter valued at $2,820,000. Sculptor Capital LP acquired a new position in shares of SIM Acquisition Corp. I in the second quarter valued at $1,826,000. Finally, Longfellow Investment Management Co. LLC bought a new stake in shares of SIM Acquisition Corp. I during the third quarter worth $80,000.

SIM Acquisition Corp. I Price Performance

SIM Acquisition Corp. I stock traded down $0.05 during midday trading on Friday, hitting $10.74. The company’s stock had a trading volume of 584 shares, compared to its average volume of 72,813. The stock’s 50-day moving average price is $10.81 and its 200-day moving average price is $10.69. SIM Acquisition Corp. I has a 12 month low of $10.10 and a 12 month high of $12.90.

SIM Acquisition Corp. I (NASDAQ:SIMA) last issued its quarterly earnings results on Friday, May 15th. The company reported $0.07 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut SIM Acquisition Corp. I from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SIM Acquisition Corp. I currently has an average rating of “Sell”.

About SIM Acquisition Corp. I

SIM Acquisition Corp. I is a Delaware‐incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Since completing its initial public offering in March 2021, the company has focused on identifying targets in the technology, digital media, sports, entertainment and consumer sectors.

The proceeds from its IPO are held in a trust account pending shareholder approval of its initial business combination.