Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Significant Increase in Short Interest

Spark I Acquisition Corporation (NASDAQ:SPKL) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 9,023 shares, an increase of 77.3% from the September 15th total of 5,089 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 22,653 shares, the short-interest ratio is presently 0.4 days.

Spark I Acquisition Stock Performance

Shares of Spark I Acquisition stock remained flat at $11.58 during midday trading on Thursday. The business’s 50-day simple moving average is $11.58 and its 200 day simple moving average is $11.79. Spark I Acquisition has a fifty-two week low of $11.04 and a fifty-two week high of $13.93.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Spark I Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Spark I Acquisition presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Spark I Acquisition

An institutional investor recently bought a new position in Spark I Acquisition stock. FNY Investment Advisers LLC purchased a new stake in Spark I Acquisition Corporation (NASDAQ:SPKL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 116,031 shares of the company’s stock, valued at approximately $1,456,000. FNY Investment Advisers LLC owned 1.34% of Spark I Acquisition at the end of the most recent reporting period. Institutional investors own 34.90% of the company’s stock.

About Spark I Acquisition

Spark I Acquisition Corporation is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. The company does not operate a commercial business of its own and therefore does not offer products or services to customers.

Its principal activity is evaluating potential merger, acquisition, or similar transactions. Until a transaction is completed, Spark I Acquisition Corporation’s activities generally consist of sourcing and assessing target companies, conducting due diligence, and pursuing the approval and closing requirements associated with a proposed business combination.

The company’s public filings provide limited information about its operating activities, geographic markets, and leadership beyond its role as an acquisition vehicle.