Short Interest in SciSparc Ltd. (NASDAQ:SPRC) Declines By 61.4%

SciSparc Ltd. (NASDAQ:SPRC) was the target of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 10,052 shares, a decrease of 61.4% from the June 30th total of 26,064 shares. Based on an average daily trading volume, of 42,754 shares, the days-to-cover ratio is presently 0.2 days. Approximately 1.8% of the company’s stock are short sold.

SciSparc Stock Up 31.7%

Shares of SciSparc stock opened at $7.02 on Wednesday. SciSparc has a 52 week low of $2.98 and a 52 week high of $80.10. The company has a 50 day moving average price of $6.52 and a 200 day moving average price of $6.13.

SciSparc (NASDAQ:SPRC) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($31.60) earnings per share (EPS) for the quarter. The business had revenue of $0.20 million for the quarter.

Wall Street Analyst Weigh In

SPRC has been the subject of several recent research reports. Wall Street Zen upgraded SciSparc to a “hold” rating in a report on Saturday, July 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SciSparc in a report on Tuesday, May 26th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, SciSparc has an average rating of “Sell”.

SciSparc Company Profile

SciSparc AG is a clinical‐stage medical technology company focused on the development and commercialization of extracorporeal shock wave–based neuromodulation devices. Founded in 2016 and headquartered in Switzerland, the company applies proprietary low‐intensity shock wave technology to noninvasively stimulate neural tissue. SciSparc completed its initial public offering on the NASDAQ in 2021 under the ticker SPRC, securing funding to advance its clinical pipeline.

The company’s lead product, the TR100 system, delivers transcranial shock wave stimulation (tSWS) designed to target areas of the brain associated with motor control and cognitive function.