Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Significant Decline in Short Interest

Spark I Acquisition Corporation (NASDAQ:SPKL) was the recipient of a large decrease in short interest in December. As of December 15th, there was short interest totaling 137 shares, a decrease of 60.7% from the November 30th total of 349 shares. Based on an average daily trading volume, of 6,505 shares, the days-to-cover ratio is currently 0.0 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 trading volume, of 6,505 shares, the days-to-cover ratio is currently 0.0 days.

Spark I Acquisition Trading Down 0.5%

NASDAQ SPKL opened at $11.20 on Friday. The company has a 50 day moving average of $11.28 and a 200-day moving average of $11.17. Spark I Acquisition has a 1-year low of $10.61 and a 1-year high of $12.01.

Spark I Acquisition (NASDAQ:SPKL) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.05) EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a report on Monday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Spark I Acquisition

Several institutional investors and hedge funds have recently bought and sold shares of the company. Wolverine Asset Management LLC increased its holdings in Spark I Acquisition by 32.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 902,388 shares of the company’s stock valued at $9,836,000 after buying an additional 219,800 shares during the period. Berkley W R Corp boosted its position in shares of Spark I Acquisition by 558.6% during the 2nd quarter. Berkley W R Corp now owns 983,347 shares of the company’s stock worth $10,718,000 after acquiring an additional 834,049 shares in the last quarter. Alberta Investment Management Corp bought a new position in Spark I Acquisition in the second quarter valued at approximately $1,635,000. StoneX Group Inc. acquired a new position in Spark I Acquisition during the second quarter valued at approximately $700,000. Finally, Clear Street Group Inc. acquired a new position in Spark I Acquisition during the third quarter valued at approximately $323,000. Institutional investors own 34.90% of the company’s stock.

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.