SIM Acquisition Corp. I (NASDAQ:SIMA) Sees Significant Decline in Short Interest

SIM Acquisition Corp. I (NASDAQ:SIMA) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 6,410 shares, a drop of 45.1% from the May 31st total of 11,672 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 6,332 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of SIM Acquisition Corp. I from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SIM Acquisition Corp. I presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On SIM Acquisition Corp. I

Several institutional investors have recently bought and sold shares of SIMA. Sona Asset Management US LLC acquired a new position in shares of SIM Acquisition Corp. I during the first quarter worth $1,072,000. Berkley W R Corp boosted its position in shares of SIM Acquisition Corp. I by 74.9% in the 1st quarter. Berkley W R Corp now owns 912,286 shares of the company’s stock worth $9,780,000 after purchasing an additional 390,768 shares in the last quarter. DLD Asset Management LP purchased a new position in SIM Acquisition Corp. I during the 1st quarter worth $5,375,000. Radcliffe Capital Management L.P. grew its stake in SIM Acquisition Corp. I by 5.2% during the 4th quarter. Radcliffe Capital Management L.P. now owns 536,322 shares of the company’s stock worth $5,680,000 after buying an additional 26,290 shares during the last quarter. Finally, L1 Global Manager Pty Ltd acquired a new position in SIM Acquisition Corp. I during the 4th quarter valued at about $2,118,000.

SIM Acquisition Corp. I Stock Performance

SIM Acquisition Corp. I stock traded down $0.01 during trading hours on Wednesday, reaching $10.87. The stock had a trading volume of 1,351 shares, compared to its average volume of 58,520. The business’s 50 day moving average price is $10.87 and its 200-day moving average price is $10.73. SIM Acquisition Corp. I has a 52 week low of $10.10 and a 52 week high of $12.90.

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

SIM Acquisition Corp. I Company Profile

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.