Short Interest in SPACSphere Acquisition Corp. (NASDAQ:SSAC) Declines By 44.1%

SPACSphere Acquisition Corp. (NASDAQ:SSAC) was the recipient of a significant drop in short interest in May. As of May 29th, there was short interest totaling 20,860 shares, a drop of 44.1% from the May 14th total of 37,298 shares. Based on an average daily volume of 41,673 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Wall Street Zen cut SPACSphere Acquisition from a “hold” rating to a “sell” rating in a research report on Friday, March 27th. Weiss Ratings started coverage on shares of SPACSphere Acquisition in a research report on Friday, May 29th. They set a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

SPACSphere Acquisition Price Performance

SSAC remained flat at $10.00 during trading hours on Monday. 1,723 shares of the company traded hands, compared to its average volume of 157,889. The firm has a 50 day moving average price of $9.94. SPACSphere Acquisition has a 12 month low of $9.85 and a 12 month high of $10.00.

About SPACSphere Acquisition

SPACSphere Acquisition Corp is a blank check company.