SIM Acquisition Corp. I (NASDAQ:SIMA) Trading 0.2% Higher – Still a Buy?

SIM Acquisition Corp. I (NASDAQ:SIMA) was up 0.2% during mid-day trading on Monday . The company traded as high as $10.98 and last traded at $11.01. Approximately 1,566 shares traded hands during mid-day trading, an increase of 141% from the average daily volume of 650 shares. The stock had previously closed at $10.99.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut SIM Acquisition Corp. I from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

SIM Acquisition Corp. I Price Performance

The firm has a 50-day simple moving average of $10.90 and a two-hundred day simple moving average of $10.81.

SIM Acquisition Corp. I (NASDAQ:SIMA) last issued its quarterly earnings results on Friday, August 14th. The company reported $0.02 earnings per share (EPS) for the quarter.

Institutional Trading of SIM Acquisition Corp. I

Hedge funds have recently modified their holdings of the stock. Sona Asset Management US LLC acquired a new position in SIM Acquisition Corp. I during the 1st quarter worth $1,072,000. DLD Asset Management LP acquired a new stake in SIM Acquisition Corp. I in the 1st quarter valued at about $5,375,000. Berkley W R Corp boosted its stake 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 valued at $9,780,000 after buying an additional 390,768 shares during the period. L1 Global Manager Pty Ltd purchased a new position in shares of SIM Acquisition Corp. I in the 4th quarter valued at about $2,118,000. Finally, Citadel Advisors LLC grew its position in shares of SIM Acquisition Corp. I by 22.4% during the third quarter. Citadel Advisors LLC now owns 15,460 shares of the company’s stock worth $162,000 after buying an additional 2,826 shares in the last quarter.

About SIM Acquisition Corp. I

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.