SIM Acquisition Corp. I (NASDAQ:SIMA) Stock Short Interest Declines 81.8%

SIM Acquisition Corp. I (NASDAQ:SIMA) saw a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 84 shares, a drop of 81.8% from the September 30th total of 461 shares. Based on an average daily volume of 3,526 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

SIM Acquisition Corp. I Trading Down 0.1%

NASDAQ:SIMA opened at $10.90 on Tuesday. SIM Acquisition Corp. I has a fifty-two week low of $10.10 and a fifty-two week high of $12.90. The stock has a fifty day moving average price of $10.99 and a 200-day moving average price of $10.84.

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

Hedge Funds Weigh In On SIM Acquisition Corp. I

Several hedge funds have recently bought and sold shares of SIMA. Berkley W R Corp raised its position in shares of 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 in the last quarter. DLD Asset Management LP bought a new stake in shares of SIM Acquisition Corp. I during the 1st quarter worth approximately $5,375,000. Finally, Sona Asset Management US LLC bought a new stake in shares of SIM Acquisition Corp. I during the 1st quarter worth approximately $1,072,000.

Wall Street Analyst Weigh In

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

SIM Acquisition Corp. I Company Profile

SIM Acquisition Corp. I is a special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol SIMA. The company was formed to identify and complete a business combination, such as a merger, stock exchange, asset acquisition, or similar transaction, with one or more operating businesses.

Unlike an operating company, SIM Acquisition Corp. I does not have an established portfolio of products or services and does not conduct substantial commercial activities of its own. Its principal activities are evaluating potential acquisition targets, negotiating a transaction, and pursuing related corporate and regulatory requirements.

Publicly available information about the company’s specific acquisition focus, geographic markets, and leadership is limited.