100,000 Shares in SIM Acquisition Corp. I $SIMA Acquired by Sona Asset Management US LLC

Key Points

• Sona Asset Management US LLC acquired 100,000 shares of SIM Acquisition Corp. I during the first quarter, valued at approximately $1.07 million and representing about 0.33% of the company.
• Several institutional investors increased or initiated positions, including Berkley W R Corp., which raised its stake by 74.9%, and DLD Asset Management LP, which acquired a new $5.38 million position.
• Weiss Ratings downgraded SIMA from “sell (d+)” to “sell (d),” while the stock opened at $10.90 and the company reported quarterly earnings of $0.07 per share.

Sona Asset Management US LLC bought a new position in shares of SIM Acquisition Corp. I (NASDAQ:SIMA - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 100,000 shares of the company's stock, valued at approximately $1,072,000. Sona Asset Management US LLC owned about 0.33% of SIM Acquisition Corp. I at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Berkley W R Corp lifted its holdings in shares of SIM Acquisition Corp. I by 74.9% during 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 period. Wolverine Asset Management LLC grew its stake in shares of SIM Acquisition Corp. I by 1.2% in the fourth quarter. Wolverine Asset Management LLC now owns 732,459 shares of the company's stock worth $7,757,000 after purchasing an additional 8,514 shares during the last quarter. Radcliffe Capital Management L.P. increased its holdings 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 valued at $5,680,000 after purchasing an additional 26,290 shares during the period. DLD Asset Management LP acquired a new stake in SIM Acquisition Corp. I in the first quarter valued at $5,375,000. Finally, Hudson Bay Capital Management LP bought a new position in SIM Acquisition Corp. I during the 2nd quarter worth $3,099,000.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded SIM Acquisition Corp. I from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of "Sell".

SIM Acquisition Corp. I Trading Down 0.4%

Shares of SIMA stock opened at $10.90 on Monday. The business's 50 day simple moving average is $10.87 and its 200 day simple moving average is $10.78. SIM Acquisition Corp. I has a one year low of $10.10 and a one year high of $12.90.

SIM Acquisition Corp. I (NASDAQ:SIMA - Get Free Report) last released its quarterly earnings results on Friday, May 15th. The company reported $0.07 earnings per share (EPS) for the quarter.

SIM Acquisition Corp. I Company Profile

SIM Acquisition Corp. I is a Delaware‐incorporated special purpose acquisition company (SPAC) formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or entities. Since completing its initial public offering in March 2021, the company has focused on identifying targets in the technology, digital media, sports, entertainment and consumer sectors.

The proceeds from its IPO are held in a trust account pending shareholder approval of its initial business combination.

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