Spark I Acquisition Corporation (NASDAQ:SPKL) Short Interest Down 38.5% in August

Spark I Acquisition Corporation (NASDAQ:SPKL) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 5,531 shares, a decrease of 38.5% from the August 15th total of 8,987 shares. Based on an average daily trading volume, of 10,055 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the shares of the stock are short sold.

Spark I Acquisition Trading Up 0.0%

SPKL stock traded up $0.01 during midday trading on Wednesday, reaching $11.59. 746 shares of the company traded hands, compared to its average volume of 43,743. Spark I Acquisition has a 52-week low of $11.04 and a 52-week high of $13.93. The business has a 50 day moving average of $11.74 and a 200-day moving average of $11.76.

Institutional Trading of Spark I Acquisition

An institutional investor recently bought a new position in Spark I Acquisition stock. FNY Investment Advisers LLC acquired a new position in shares of Spark I Acquisition Corporation (NASDAQ:SPKL) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 116,031 shares of the company’s stock, valued at approximately $1,456,000. FNY Investment Advisers LLC owned 1.34% of Spark I Acquisition as of its most recent SEC filing. Institutional investors and hedge funds own 34.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Spark I Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Spark I Acquisition has an average rating of “Sell”.

About Spark I Acquisition

Spark I Acquisition Corp. is a special purpose acquisition company, or SPAC, formed to pursue a business combination with one or more operating companies. Its potential transactions may include a merger, stock exchange, asset acquisition, stock purchase, recapitalization or similar corporate reorganization.

Unlike an operating company, Spark I Acquisition Corp. does not have established products, services or geographic markets of its own. Its activities primarily involve identifying a suitable acquisition target, conducting due diligence and negotiating the terms of a proposed transaction.

The company’s future business and market focus would depend on the target selected for its business combination.