SIM Acquisition Corp. I (NASDAQ:SIMA) Shares Shorted: Short Interest Down 88.4% in September

SIM Acquisition Corp. I (NASDAQ:SIMA) was the recipient of a significant drop in short interest in September. As of September 30th, there was short interest totaling 461 shares, a drop of 88.4% from the September 15th total of 3,960 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 3,562 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On SIM Acquisition Corp. I

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SIMA. Radcliffe Capital Management L.P. raised its position 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 purchasing an additional 26,290 shares during the period. Sona Asset Management US LLC bought a new stake in shares of SIM Acquisition Corp. I during the 1st quarter worth about $1,072,000. L1 Global Manager Pty Ltd bought a new stake in shares of SIM Acquisition Corp. I during the 4th quarter worth about $2,118,000. Berkley W R Corp grew its stake in SIM Acquisition Corp. I by 74.9% in the 1st 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 last quarter. Finally, DLD Asset Management LP acquired a new position in SIM Acquisition Corp. I in the 1st quarter valued at about $5,375,000.

SIM Acquisition Corp. I Trading Down 3.9%

SIM Acquisition Corp. I stock opened at $11.05 on Friday. The stock has a 50-day simple moving average of $10.98 and a 200 day simple moving average of $10.89. SIM Acquisition Corp. I has a 52 week low of $10.10 and a 52 week high of $12.90.

SIM Acquisition Corp. I (NASDAQ:SIMA) last issued its earnings results on Friday, August 14th. The company reported $0.02 EPS for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded SIM Acquisition Corp. I from a “sell (d)” rating to a “hold (c)” rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Hold rating. According to MarketBeat, the company presently has an average rating of “Hold”.

About SIM Acquisition Corp. I

SIM Acquisition Corp. I (NASDAQ: SIMA) is a special purpose acquisition company, or SPAC. The company was formed to identify and complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses.

Unlike an operating company, SIM Acquisition Corp. I does not manufacture products or provide ongoing commercial services. Its activities are focused on evaluating potential acquisition targets, negotiating a transaction, and completing any related financing or regulatory requirements.

The company’s geographic reach and industry focus are determined by the targets it evaluates and any business combination it may complete.