SciSparc Ltd. (NASDAQ:SPRC) Sees Large Growth in Short Interest

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

SciSparc Stock Down 8.8%

SPRC opened at $0.38 on Wednesday. SciSparc has a 12-month low of $0.37 and a 12-month high of $29.88. The stock’s 50 day moving average price is $3.31 and its two-hundred day moving average price is $5.29.

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

Wall Street Analyst Weigh In

SPRC has been the subject of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of SciSparc in a research note on Friday, August 21st. Wall Street Zen upgraded shares of SciSparc to a “hold” rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has an average rating of “Sell”.

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.