Spark I Acquisition Corporation (NASDAQ:SPKL) Sees Large Decrease in Short Interest

Spark I Acquisition Corporation (NASDAQ:SPKL) was the target of a large decrease in short interest during the month of January. As of January 30th, there was short interest totaling 101 shares, a decrease of 57.4% from the January 15th total of 237 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 692 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 692 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Spark I Acquisition Stock Down 0.9%

Shares of SPKL stock opened at $11.28 on Friday. The stock has a 50-day moving average of $11.30 and a 200-day moving average of $11.27. Spark I Acquisition has a one year low of $10.69 and a one year high of $12.01.

Spark I Acquisition (NASDAQ:SPKL) last announced its quarterly earnings results on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Spark I Acquisition in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Spark I Acquisition

Several institutional investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC grew its stake in shares of Spark I Acquisition by 32.2% during the 2nd quarter. Wolverine Asset Management LLC now owns 902,388 shares of the company’s stock worth $9,836,000 after acquiring an additional 219,800 shares in the last quarter. Alberta Investment Management Corp bought a new position in Spark I Acquisition in the second quarter valued at $1,635,000. StoneX Group Inc. bought a new position in Spark I Acquisition in the second quarter valued at $700,000. Berkley W R Corp increased its stake in Spark I Acquisition by 558.6% in the 2nd quarter. Berkley W R Corp now owns 983,347 shares of the company’s stock valued at $10,718,000 after buying an additional 834,049 shares during the last quarter. Finally, Radcliffe Capital Management L.P. bought a new stake in Spark I Acquisition during the 2nd quarter worth about $531,000. 34.90% of the stock is owned by institutional investors.

About Spark I Acquisition

Spark I Acquisition Corp. is a Delaware-incorporated special purpose acquisition company (SPAC) listed on the NASDAQ under the ticker SPKL. Formed in 2020, the company has no commercial operations of its own and was established to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank check company, Spark I Acquisition holds funds in trust until it identifies and completes a business combination target.

The company’s primary focus is on identifying high-growth businesses, with an emphasis on sectors such as technology, industrials and consumer products.