SIM Acquisition Corp. I (NASDAQ:SIMA) Short Interest Up 1,741.6% in May

SIM Acquisition Corp. I (NASDAQ:SIMA) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 15,083 shares, an increase of 1,741.6% from the April 30th total of 819 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 19,037 shares, the short-interest ratio is presently 0.8 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sona Asset Management US LLC acquired a new position in shares of SIM Acquisition Corp. I in the first quarter valued at approximately $1,072,000. Berkley W R Corp boosted its holdings in shares of SIM Acquisition Corp. I by 74.9% in the first quarter. Berkley W R Corp now owns 912,286 shares of the company’s stock valued at $9,780,000 after buying an additional 390,768 shares during the period. DLD Asset Management LP acquired a new position in shares of SIM Acquisition Corp. I in the first quarter valued at approximately $5,375,000. Radcliffe Capital Management L.P. boosted its holdings in shares of SIM Acquisition Corp. I by 5.2% in the fourth quarter. Radcliffe Capital Management L.P. now owns 536,322 shares of the company’s stock valued at $5,680,000 after buying an additional 26,290 shares during the period. Finally, L1 Global Manager Pty Ltd acquired a new position in shares of SIM Acquisition Corp. I in the fourth quarter valued at approximately $2,118,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of SIM Acquisition Corp. I from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, SIM Acquisition Corp. I presently has a consensus rating of “Sell”.

SIM Acquisition Corp. I Stock Up 0.3%

NASDAQ:SIMA traded up $0.03 during trading hours on Wednesday, hitting $10.80. The stock had a trading volume of 40,050 shares, compared to its average volume of 18,337. SIM Acquisition Corp. I has a one year low of $10.10 and a one year high of $12.90. The business’s 50 day moving average is $10.80 and its 200-day moving average is $10.69.

SIM Acquisition Corp. I (NASDAQ:SIMA) last issued its earnings results on Friday, May 15th. The company reported $0.07 EPS for the quarter.

SIM Acquisition Corp. I Company Profile

SIM Acquisition Corp. I is a Delaware‐incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Since completing its initial public offering in March 2021, the company has focused on identifying targets in the technology, digital media, sports, entertainment and consumer sectors.

The proceeds from its IPO are held in a trust account pending shareholder approval of its initial business combination.