Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Significant Growth in Short Interest

Spark I Acquisition Corporation (NASDAQ:SPKL) was the target of a large growth in short interest in December. As of December 31st, there was short interest totaling 322 shares, a growth of 135.0% from the December 15th total of 137 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 4,018 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 4,018 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Spark I Acquisition in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Spark I Acquisition Stock Performance

Shares of SPKL stock traded up $0.08 on Friday, hitting $11.43. 380 shares of the stock traded hands, compared to its average volume of 2,232. The company’s fifty day moving average is $11.24 and its 200 day moving average is $11.21. Spark I Acquisition has a 1-year low of $10.67 and a 1-year high of $12.01.

Spark I Acquisition (NASDAQ:SPKL) last posted its earnings results on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPKL. Clear Street Group Inc. acquired a new stake in Spark I Acquisition in the third quarter valued at approximately $323,000. Radcliffe Capital Management L.P. acquired a new stake in shares of Spark I Acquisition in the 2nd quarter valued at $531,000. StoneX Group Inc. acquired a new stake in shares of Spark I Acquisition in the 2nd quarter valued at $700,000. Alberta Investment Management Corp bought a new stake in Spark I Acquisition in the second quarter worth $1,635,000. Finally, Wolverine Asset Management LLC increased its position in Spark I Acquisition by 32.2% during the second quarter. Wolverine Asset Management LLC now owns 902,388 shares of the company’s stock worth $9,836,000 after buying an additional 219,800 shares during the last quarter. Institutional investors and hedge funds own 34.90% of the company’s stock.

Spark I Acquisition Company Profile

Spark I Acquisition Corp. is a Delaware-incorporated special purpose acquisition company (SPAC) listed on the NASDAQ under the ticker SPKL. Formed in 2020, the company has no commercial operations of its own and was established to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank check company, Spark I Acquisition holds funds in trust until it identifies and completes a business combination target.

The company’s primary focus is on identifying high-growth businesses, with an emphasis on sectors such as technology, industrials and consumer products.