Spark I Acquisition Corporation (NASDAQ:SPKL – Get Free Report) was the recipient of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 35,299 shares, a growth of 31,990.0% from the April 30th total of 110 shares. Based on an average trading volume of 30,246 shares, the short-interest ratio is presently 1.2 days. Currently, 0.4% of the company’s stock are sold short.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Berkley W R Corp grew its stake in Spark I Acquisition by 37.9% in the 1st quarter. Berkley W R Corp now owns 90,426 shares of the company’s stock valued at $1,025,000 after purchasing an additional 24,860 shares during the period. Clear Street Group Inc. bought a new position in Spark I Acquisition in the 3rd quarter valued at $323,000. Finally, Radcliffe Capital Management L.P. bought a new position in Spark I Acquisition in the 2nd quarter valued at $531,000. Institutional investors own 34.90% of the company’s stock.
Spark I Acquisition Stock Performance
SPKL stock opened at $12.01 on Friday. Spark I Acquisition has a twelve month low of $10.84 and a twelve month high of $12.59. The stock’s 50 day moving average is $11.57 and its 200-day moving average is $11.38.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Spark I Acquisition in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.
Get Our Latest Analysis on SPKL
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.
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