SciSparc Ltd. (NASDAQ:SPRC) Sees Significant Increase in Short Interest

SciSparc Ltd. (NASDAQ:SPRC) was the target of a significant growth in short interest during the month of October. As of October 30th, there was short interest totaling 69,374 shares, a growth of 471.9% from the October 15th total of 12,131 shares. Based on an average trading volume of 4,376,407 shares, the short-interest ratio is currently 0.0 days. Approximately 12.5% of the company’s shares are sold short.

Analysts Set New Price Targets

SPRC has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SciSparc in a research note on Friday, August 21st. Wall Street Zen raised shares of SciSparc to a “hold” rating in a research report on Saturday, July 18th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has a consensus rating of “Sell”.

SciSparc Stock Performance

NASDAQ:SPRC opened at $0.38 on Wednesday. The company has a 50-day moving average of $3.31 and a 200-day moving average of $5.29. SciSparc has a twelve month low of $0.37 and a twelve month high of $29.88.

SciSparc (NASDAQ:SPRC) last issued its earnings results on Friday, August 14th. The company reported ($4.85) earnings per share (EPS) for the quarter. The company had revenue of $0.14 million during the quarter.

About SciSparc

SciSparc Ltd. (NASDAQ: SPRC) is an Israel-based clinical-stage specialty pharmaceutical company focused on developing therapies based on cannabinoid molecules. The company’s research is aimed primarily at central nervous system disorders and other conditions for which existing treatment options may be limited. SciSparc’s pipeline has included investigational products such as SCI-110, a cannabinoid-based combination therapy being studied for conditions including Tourette syndrome and obstructive sleep apnea, as well as programs addressing Alzheimer’s disease agitation and pain.