SciSparc Ltd. (NASDAQ:SPRC) Sees Significant Drop in Short Interest

SciSparc Ltd. (NASDAQ:SPRC) was the recipient of a large drop in short interest in 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. Based on an average daily trading volume, of 92,075 shares, the days-to-cover ratio is presently 0.2 days. Currently, 3.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

SPRC has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of SciSparc to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of SciSparc in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

SciSparc Stock Down 0.5%

NASDAQ SPRC traded down $0.03 during trading on Monday, hitting $6.55. 3,773 shares of the company’s stock were exchanged, compared to its average volume of 537,232. SciSparc has a fifty-two week low of $2.98 and a fifty-two week high of $80.10. The stock’s 50 day moving average price is $6.04 and its two-hundred day moving average price is $5.83.

SciSparc Company Profile

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.