Short Interest in Spark I Acquisition Corporation (NASDAQ:SPKL) Expands By 409.9%

Spark I Acquisition Corporation (NASDAQ:SPKL) saw 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. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 732 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 732 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Spark I Acquisition Stock Performance

Spark I Acquisition stock traded down $0.07 during trading hours on Wednesday, reaching $11.31. The stock had a trading volume of 1,965 shares, compared to its average volume of 687. Spark I Acquisition has a 52 week low of $10.71 and a 52 week high of $12.01. The business’s 50 day moving average price is $11.31 and its 200-day moving average price is $11.29.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Clear Street Group Inc. purchased a new stake in shares of Spark I Acquisition during the third quarter worth approximately $323,000. Radcliffe Capital Management L.P. purchased a new stake in shares of Spark I Acquisition during the 2nd quarter valued at approximately $531,000. StoneX Group Inc. purchased a new stake in Spark I Acquisition in the second quarter valued at $700,000. Berkley W R Corp acquired a new position in Spark I Acquisition in the fourth quarter valued at about $749,000. Finally, Alberta Investment Management Corp acquired a new stake in Spark I Acquisition in the 2nd quarter valued at approximately $1,635,000. Hedge funds and other institutional investors own 34.90% of the company’s stock.

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.