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

SIM Acquisition Corp. I (NASDAQ:SIMA) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 461 shares, a decline of 88.4% from the September 15th total of 3,960 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 3,562 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of SIM Acquisition Corp. I from a “sell (d)” rating to a “hold (c)” rating in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, SIM Acquisition Corp. I presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sona Asset Management US LLC bought a new stake in shares of SIM Acquisition Corp. I in the 1st quarter worth about $1,072,000. Berkley W R Corp lifted its stake in SIM Acquisition Corp. I by 74.9% in the first quarter. Berkley W R Corp now owns 912,286 shares of the company’s stock worth $9,780,000 after purchasing an additional 390,768 shares during the last quarter. DLD Asset Management LP bought a new stake in SIM Acquisition Corp. I in the first quarter worth about $5,375,000. Radcliffe Capital Management L.P. lifted its stake in SIM Acquisition Corp. I by 5.2% in the fourth quarter. Radcliffe Capital Management L.P. now owns 536,322 shares of the company’s stock worth $5,680,000 after purchasing an additional 26,290 shares during the last quarter. Finally, L1 Global Manager Pty Ltd bought a new stake in SIM Acquisition Corp. I in the fourth quarter worth about $2,118,000.

SIM Acquisition Corp. I Price Performance

Shares of NASDAQ:SIMA traded up $0.03 on Monday, hitting $11.01. 5,013 shares of the company traded hands, compared to its average volume of 4,406. SIM Acquisition Corp. I has a 52 week low of $10.10 and a 52 week high of $12.90. The stock has a 50 day simple moving average of $10.98 and a 200-day simple moving average of $10.89.

SIM Acquisition Corp. I (NASDAQ:SIMA) last issued its quarterly earnings data on Friday, August 14th. The company reported $0.02 earnings per share for the quarter.

About SIM Acquisition Corp. I

SIM Acquisition Corp. I (NASDAQ: SIMA) is a special purpose acquisition company, or SPAC. The company was formed to identify and complete a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more operating businesses.

Unlike an operating company, SIM Acquisition Corp. I does not manufacture products or provide ongoing commercial services. Its activities are focused on evaluating potential acquisition targets, negotiating a transaction, and completing any related financing or regulatory requirements.

The company’s geographic reach and industry focus are determined by the targets it evaluates and any business combination it may complete.