Spark I Acquisition Corporation (NASDAQ:SPKL) Short Interest Down 57.4% in January

Spark I Acquisition Corporation (NASDAQ:SPKL) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 101 shares, a drop of 57.4% from the January 15th total of 237 shares. Based on an average daily volume of 692 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the company’s stock are sold short. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 692 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On Spark I Acquisition

A number of institutional investors and hedge funds have recently modified their holdings of the company. Clear Street Group Inc. bought a new position in shares of Spark I Acquisition in the third quarter valued at approximately $323,000. Radcliffe Capital Management L.P. purchased a new stake in Spark I Acquisition in the 2nd quarter worth approximately $531,000. StoneX Group Inc. bought a new position in Spark I Acquisition in the 2nd quarter valued at $700,000. Alberta Investment Management Corp purchased a new position in shares of Spark I Acquisition during the 2nd quarter valued at $1,635,000. Finally, Wolverine Asset Management LLC grew its position in shares of Spark I Acquisition by 32.2% during the 2nd quarter. Wolverine Asset Management LLC now owns 902,388 shares of the company’s stock valued at $9,836,000 after purchasing an additional 219,800 shares in the last quarter. 34.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Spark I Acquisition in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Spark I Acquisition Price Performance

Shares of SPKL stock opened at $11.40 on Friday. The company’s fifty day simple moving average is $11.30 and its two-hundred day simple moving average is $11.27. Spark I Acquisition has a 1 year low of $10.69 and a 1 year high of $12.01.

Spark I Acquisition (NASDAQ:SPKL) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter.

Spark I Acquisition Company Profile

Spark I Acquisition Corp. is a Delaware-incorporated special purpose acquisition company (SPAC) listed on the NASDAQ under the ticker SPKL. Formed in 2020, the company has no commercial operations of its own and was established to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank check company, Spark I Acquisition holds funds in trust until it identifies and completes a business combination target.

The company’s primary focus is on identifying high-growth businesses, with an emphasis on sectors such as technology, industrials and consumer products.