SIM Acquisition Corp. I (NASDAQ:SIMA) Sees Significant Decline in Short Interest

SIM Acquisition Corp. I (NASDAQ:SIMA) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 6,410 shares, a decrease of 45.1% from the May 31st total of 11,672 shares. Based on an average trading volume of 6,332 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.1% of the company’s shares are short sold.

SIM Acquisition Corp. I Trading Down 0.1%

Shares of NASDAQ SIMA traded down $0.01 during mid-day trading on Wednesday, reaching $10.87. The company had a trading volume of 1,351 shares, compared to its average volume of 58,520. The business’s 50-day moving average is $10.87 and its 200-day moving average is $10.73. SIM Acquisition Corp. I has a 52 week low of $10.10 and a 52 week high of $12.90.

SIM Acquisition Corp. I (NASDAQ:SIMA) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.07 earnings per share for the quarter.

Institutional Trading of SIM Acquisition Corp. I

Several institutional investors and hedge funds have recently modified their holdings of the stock. Longfellow Investment Management Co. LLC bought a new stake in SIM Acquisition Corp. I during the 3rd quarter valued at $80,000. Citadel Advisors LLC grew its position in shares of SIM Acquisition Corp. I by 22.4% during the 3rd quarter. Citadel Advisors LLC now owns 15,460 shares of the company’s stock worth $162,000 after buying an additional 2,826 shares in the last quarter. Sona Asset Management US LLC purchased a new position in shares of SIM Acquisition Corp. I during the first quarter valued at $1,072,000. Shaolin Capital Management LLC purchased a new position in shares of SIM Acquisition Corp. I during the second quarter valued at $1,042,000. Finally, Sculptor Capital LP bought a new stake in shares of SIM Acquisition Corp. I in the second quarter valued at about $1,826,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of SIM Acquisition Corp. I from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, SIM Acquisition Corp. I currently has an average rating of “Sell”.

SIM Acquisition Corp. I Company Profile

SIM Acquisition Corp. I is a Delaware‐incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Since completing its initial public offering in March 2021, the company has focused on identifying targets in the technology, digital media, sports, entertainment and consumer sectors.

The proceeds from its IPO are held in a trust account pending shareholder approval of its initial business combination.