SPACSphere Acquisition Corp. (NASDAQ:SSAC) Sees Large Decrease in Short Interest

SPACSphere Acquisition Corp. (NASDAQ:SSAC) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 20,860 shares, a drop of 44.1% from the May 14th total of 37,298 shares. Based on an average daily volume of 41,673 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.1% of the shares of the stock are short sold.

SPACSphere Acquisition Trading Up 0.1%

Shares of NASDAQ:SSAC traded up $0.01 during midday trading on Friday, hitting $10.00. The company’s stock had a trading volume of 10,114 shares, compared to its average volume of 160,152. The business’s 50 day moving average is $9.94. SPACSphere Acquisition has a 12-month low of $9.85 and a 12-month high of $10.00.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SSAC. Wall Street Zen lowered shares of SPACSphere Acquisition from a “hold” rating to a “sell” rating in a research report on Friday, March 27th. Weiss Ratings began coverage on shares of SPACSphere Acquisition in a research report on Friday, May 29th. They issued a “sell (e)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SPACSphere Acquisition presently has an average rating of “Sell”.

About SPACSphere Acquisition

SPACSphere Acquisition Corp is a blank check company.