Spark I Acquisition Corporation (NASDAQ:SPKL) Short Interest Down 38.5% in August

Spark I Acquisition Corporation (NASDAQ:SPKL) saw a large decrease in short interest in August. As of August 31st, there was short interest totaling 5,531 shares, a decrease of 38.5% from the August 15th total of 8,987 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 10,055 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of Spark I Acquisition

A hedge fund recently raised its position in Spark I Acquisition stock. Berkley W R Corp grew its position in shares of Spark I Acquisition Corporation (NASDAQ:SPKL) by 37.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,426 shares of the company’s stock after purchasing an additional 24,860 shares during the period. Berkley W R Corp owned approximately 1.04% of Spark I Acquisition worth $1,025,000 at the end of the most recent reporting period. Institutional investors own 34.90% of the company’s stock.

Spark I Acquisition Trading Up 0.0%

Shares of Spark I Acquisition stock traded up $0.01 on Wednesday, hitting $11.59. 746 shares of the company traded hands, compared to its average volume of 43,743. Spark I Acquisition has a 52 week low of $11.04 and a 52 week high of $13.93. The business has a 50-day simple moving average of $11.74 and a 200 day simple moving average of $11.76.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Spark I Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 24th. 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”.

Spark I Acquisition Company Profile

Spark I Acquisition Corp. is a special purpose acquisition company, or SPAC, formed to pursue a business combination with one or more operating companies. Its potential transactions may include a merger, stock exchange, asset acquisition, stock purchase, recapitalization or similar corporate reorganization.

Unlike an operating company, Spark I Acquisition Corp. does not have established products, services or geographic markets of its own. Its activities primarily involve identifying a suitable acquisition target, conducting due diligence and negotiating the terms of a proposed transaction.

The company’s future business and market focus would depend on the target selected for its business combination.