Short Interest in SciSparc Ltd. (NASDAQ:SPRC) Declines By 76.8%

SciSparc Ltd. (NASDAQ:SPRC) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totaling 7,194 shares, a drop of 76.8% from the April 30th total of 31,066 shares. Based on an average daily volume of 27,949 shares, the short-interest ratio is currently 0.3 days. Approximately 1.3% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of SciSparc in a research report on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Key Headlines Impacting SciSparc

Here are the key news stories impacting SciSparc this week:

• Positive Sentiment: NeuroThera Labs received conditional TSX Venture Exchange approval for its acquisition of a majority stake in CliniQuantum, which could improve the odds of closing the transaction and support investor optimism. Article Title
• Positive Sentiment: Several market reports said the stock surged on the approval news, indicating strong speculative buying interest in response to the transaction milestone. Article Title
• Neutral Sentiment: SPRC experienced multiple LULD trading halts, reflecting extreme volatility and heightened trading activity rather than a new fundamental development. Article Title

SciSparc Stock Down 7.1%

NASDAQ SPRC traded down $0.75 during trading hours on Friday, reaching $9.80. The company’s stock had a trading volume of 822,509 shares, compared to its average volume of 664,502. SciSparc has a 1 year low of $2.98 and a 1 year high of $80.10. The firm’s 50-day moving average price is $5.00 and its 200-day moving average price is $9.28.

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

About SciSparc

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.