Spacsphere Acquisition Corp. (NASDAQ:SSACU) Short Interest Down 47.2% in May

Spacsphere Acquisition Corp. (NASDAQ:SSACU) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 114 shares, a drop of 47.2% from the April 30th total of 216 shares. Based on an average daily volume of 77 shares, the days-to-cover ratio is presently 1.5 days.

Spacsphere Acquisition Stock Performance

Spacsphere Acquisition stock remained flat at $11.16 during midday trading on Wednesday. The company’s stock had a trading volume of 200 shares, compared to its average volume of 106,562. Spacsphere Acquisition has a one year low of $9.95 and a one year high of $10.15. The firm has a fifty day moving average price of $10.11.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Spacsphere Acquisition from a “hold” rating to a “sell” rating in a report on Saturday, February 28th.

Spacsphere Acquisition Company Profile

Spacsphere Acquisition (NASDAQ: SSACU) is a special purpose acquisition company (SPAC) whose units trade on the Nasdaq under the ticker SSACU. As a blank‑check company, its primary purpose is to raise capital through public markets and use those proceeds to identify, acquire, or merge with one or more privately held businesses, thereby bringing a target company public through a business combination or reverse merger.

The company’s main activities center on deal sourcing and transaction execution: evaluating potential acquisition targets, negotiating terms of a business combination, and completing the legal and regulatory steps required to consummate a merger.