SPACSphere Acquisition Corp. (NASDAQ:SSAC) Sees Significant Decline in Short Interest

SPACSphere Acquisition Corp. (NASDAQ:SSAC) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 24,401 shares, a decrease of 41.2% from the July 30th total of 41,521 shares. Based on an average trading volume of 34,543 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.1% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of SPACSphere Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in SPACSphere Acquisition stock. Harraden Circle Investments LLC bought a new stake in shares of SPACSphere Acquisition Corp. (NASDAQ:SSAC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,089,230 shares of the company’s stock, valued at approximately $20,851,000. SPACSphere Acquisition accounts for approximately 2.1% of Harraden Circle Investments LLC’s investment portfolio, making the stock its 16th largest holding. Harraden Circle Investments LLC owned 11.42% of SPACSphere Acquisition as of its most recent filing with the SEC.

SPACSphere Acquisition Price Performance

Shares of SSAC traded down $0.01 on Monday, hitting $10.09. The company’s stock had a trading volume of 90,502 shares, compared to its average volume of 122,710. SPACSphere Acquisition has a fifty-two week low of $9.85 and a fifty-two week high of $10.10. The business has a 50 day moving average price of $10.03.

About SPACSphere Acquisition

SPACSphere Acquisition Corp is a blank check company.