SPACSphere Acquisition Corp. (NASDAQ:SSAC) Sees Large Decrease in Short Interest

SPACSphere Acquisition Corp. (NASDAQ:SSAC) was the recipient of a significant drop in short interest in May. As of May 29th, there was short interest totaling 20,860 shares, a drop of 44.1% from the May 14th total of 37,298 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 41,673 shares, the short-interest ratio is currently 0.5 days.

SPACSphere Acquisition Price Performance

SSAC stock traded up $0.01 during trading on Friday, reaching $10.00. 10,114 shares of the stock were exchanged, compared to its average volume of 160,152. The stock has a 50 day simple moving average of $9.94. SPACSphere Acquisition has a 1 year low of $9.85 and a 1 year high of $10.00.

Analyst Upgrades and Downgrades

SSAC has been the topic of several research reports. Weiss Ratings initiated coverage on shares of SPACSphere Acquisition in a research note on Friday, May 29th. They issued a “sell (e)” rating on the stock. Wall Street Zen downgraded shares of SPACSphere Acquisition from a “hold” rating to a “sell” rating in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

SPACSphere Acquisition Company Profile

SPACSphere Acquisition Corp is a blank check company.