SIM Acquisition Corp. I (NASDAQ:SIMA) Shares Up 0.5% – What’s Next?

SIM Acquisition Corp. I (NASDAQ:SIMA)’s stock price rose 0.5% on Friday . The stock traded as high as $10.61 and last traded at $10.69. Approximately 677 shares were traded during trading, a decline of 96% from the average daily volume of 17,855 shares. The stock had previously closed at $10.64.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of SIM Acquisition Corp. I in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

SIM Acquisition Corp. I Price Performance

The company has a 50 day simple moving average of $10.60 and a 200 day simple moving average of $10.54.

SIM Acquisition Corp. I (NASDAQ:SIMA) last posted its quarterly earnings data on Thursday, November 13th. The company reported $0.07 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On SIM Acquisition Corp. I

A number of large investors have recently modified their holdings of the business. Magnetar Financial LLC acquired a new stake in shares of SIM Acquisition Corp. I in the second quarter valued at about $20,366,000. Picton Mahoney Asset Management increased its position in shares of SIM Acquisition Corp. I by 28.6% during the 2nd quarter. Picton Mahoney Asset Management now owns 1,800,000 shares of the company’s stock worth $18,760,000 after purchasing an additional 400,000 shares during the last quarter. Meteora Capital LLC acquired a new position in shares of SIM Acquisition Corp. I during the 2nd quarter worth approximately $9,666,000. Alberta Investment Management Corp bought a new stake in shares of SIM Acquisition Corp. I during the 2nd quarter worth approximately $7,822,000. Finally, Wolverine Asset Management LLC boosted its holdings in shares of SIM Acquisition Corp. I by 1.2% in the 4th quarter. Wolverine Asset Management LLC now owns 732,459 shares of the company’s stock valued at $7,757,000 after buying an additional 8,514 shares during the last quarter.

About SIM Acquisition Corp. I

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.