Spark I Acquisition Corporation (NASDAQ:SPKL) Short Interest Up 409.9% in February

Spark I Acquisition Corporation (NASDAQ:SPKL) was the target of a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 515 shares, an increase of 409.9% from the January 29th total of 101 shares. Based on an average daily volume of 732 shares, the short-interest ratio is currently 0.7 days. Approximately 0.0% of the shares of the company are sold short. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 732 shares, the short-interest ratio is currently 0.7 days.

Institutional Investors Weigh In On Spark I Acquisition

Several institutional investors have recently added to or reduced their stakes in SPKL. Berkley W R Corp increased its stake in shares of Spark I Acquisition by 558.6% in the second quarter. Berkley W R Corp now owns 983,347 shares of the company’s stock worth $10,718,000 after purchasing an additional 834,049 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in 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 acquiring an additional 219,800 shares during the period. Alberta Investment Management Corp purchased a new stake in shares of Spark I Acquisition during the second quarter worth $1,635,000. StoneX Group Inc. purchased a new position in shares of Spark I Acquisition in the second quarter valued at $700,000. Finally, Radcliffe Capital Management L.P. bought a new stake in shares of Spark I Acquisition during the 2nd quarter valued at $531,000. 34.90% of the stock is owned by hedge funds and other institutional investors.

Spark I Acquisition Price Performance

Shares of NASDAQ SPKL opened at $11.31 on Friday. The stock has a fifty day simple moving average of $11.32 and a two-hundred day simple moving average of $11.29. Spark I Acquisition has a 1-year low of $10.71 and a 1-year high of $12.01.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Spark I Acquisition in a research note on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

About Spark I Acquisition

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.