SciSparc Ltd. (NASDAQ:SPRC – Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 17,206 shares, a drop of 54.7% from the July 30th total of 37,966 shares. Approximately 3.1% of the company’s stock are sold short. Based on an average daily volume of 92,075 shares, the short-interest ratio is currently 0.2 days.
SciSparc Stock Down 0.6%
NASDAQ:SPRC traded down $0.04 during trading hours on Friday, hitting $6.58. 84,130 shares of the stock were exchanged, compared to its average volume of 75,983. The company’s 50 day moving average is $6.04 and its two-hundred day moving average is $5.83. SciSparc has a twelve month low of $2.98 and a twelve month high of $80.10.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SciSparc in a research report on Friday, August 21st. Wall Street Zen upgraded SciSparc to a “hold” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.
About SciSparc
SciSparc AG is a clinical‐stage medical technology company focused on the development and commercialization of extracorporeal shock wave–based neuromodulation devices. Founded in 2016 and headquartered in Switzerland, the company applies proprietary low‐intensity shock wave technology to noninvasively stimulate neural tissue. SciSparc completed its initial public offering on the NASDAQ in 2021 under the ticker SPRC, securing funding to advance its clinical pipeline.
The company’s lead product, the TR100 system, delivers transcranial shock wave stimulation (tSWS) designed to target areas of the brain associated with motor control and cognitive function.
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