SciSparc Ltd. (NASDAQ:SPRC) Short Interest Up 5,157.1% in May

SciSparc Ltd. (NASDAQ:SPRC) was the recipient of a significant growth in short interest in May. As of May 29th, there was short interest totaling 378,196 shares, a growth of 5,157.1% from the May 14th total of 7,194 shares. Approximately 67.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,858,258 shares, the short-interest ratio is presently 0.1 days.

SciSparc Price Performance

SciSparc stock opened at $8.66 on Thursday. The firm’s 50 day simple moving average is $6.03 and its 200-day simple moving average is $8.46. SciSparc has a fifty-two week low of $2.98 and a fifty-two week high of $80.10.

SciSparc (NASDAQ:SPRC) last released its earnings results on Wednesday, April 29th. The company reported ($31.60) earnings per share for the quarter. The firm had revenue of $0.20 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of SciSparc in a report on Tuesday, May 26th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

About SciSparc

SciSparc AG is a clinical‐stage medical technology company focused on the development and commercialization of extracorporeal shock wave–based neuromodulation devices. Founded in 2016 and headquartered in Switzerland, the company applies proprietary low‐intensity shock wave technology to noninvasively stimulate neural tissue. SciSparc completed its initial public offering on the NASDAQ in 2021 under the ticker SPRC, securing funding to advance its clinical pipeline.

The company’s lead product, the TR100 system, delivers transcranial shock wave stimulation (tSWS) designed to target areas of the brain associated with motor control and cognitive function.