Spark I Acquisition Co. (NASDAQ:SPKLU) Sees Significant Decrease in Short Interest

Spark I Acquisition Co. (NASDAQ:SPKLU) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 1 shares, a decline of 99.7% from the June 15th total of 293 shares. Based on an average daily trading volume, of 2,268 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On Spark I Acquisition

A hedge fund recently bought a new position in Spark I Acquisition stock. Clear Street Group Inc. purchased a new stake in Spark I Acquisition Co. (NASDAQ:SPKLU) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,973 shares of the company’s stock, valued at approximately $193,000.

Spark I Acquisition Price Performance

Spark I Acquisition stock remained flat at $13.00 during midday trading on Friday. Spark I Acquisition has a twelve month low of $11.32 and a twelve month high of $17.70. The firm has a fifty day moving average price of $12.78 and a two-hundred day moving average price of $12.15.

Spark I Acquisition Company Profile

Spark I Acquisition Corp. is a special purpose acquisition company (SPAC) formed to effectuate a merger, capital stock exchange, asset acquisition or similar business combination with one or more businesses. The company executed its initial public offering in late 2020 under the ticker SPKLU on the Nasdaq Stock Market. As a blank-check vehicle, Spark I Acquisition does not currently conduct operations of its own but seeks to identify and combine with a target company that offers substantial growth potential and strategic alignment with its investment criteria.

The SPAC is sponsored by Spark Impact, an asset management and investment firm known for integrating environmental, social and governance (ESG) principles into its investment process.