SIM Acquisition Corp. I (NASDAQ:SIMA) Stock Short Interest Declines 81.8%

Key Points

• Short interest in SIM Acquisition Corp. I fell 81.8%, declining from 461 shares on September 30 to 84 shares on October 15. Short interest represented approximately 0.0% of shares outstanding, with a 0.0-day days-to-cover ratio.
• Weiss Ratings upgraded the stock from “sell (d)” to “hold (c),” while the sole covering analyst also rates SIMA “Hold.”
• Institutional activity was mixed but included a new $5.375 million stake by DLD Asset Management and a 74.9% increase in Berkley W R Corp.’s holdings. Shares opened at $10.90, within a 12-month range of $10.10 to $12.90.

SIM Acquisition Corp. I (NASDAQ:SIMA - Get Free Report) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 84 shares, a drop of 81.8% from the September 30th total of 461 shares. Based on an average daily volume of 3,526 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

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. According to data from MarketBeat.com, the stock currently has an average rating of "Hold".

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. DLD Asset Management LP bought a new stake in shares of SIM Acquisition Corp. I in the first quarter valued at about $5,375,000. Berkley W R Corp grew its stake in shares of 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 valued at $9,780,000 after acquiring an additional 390,768 shares in the last quarter. Finally, Sona Asset Management US LLC bought a new position in SIM Acquisition Corp. I during the first quarter worth about $1,072,000.

SIM Acquisition Corp. I Stock Performance

Shares of NASDAQ:SIMA opened at $10.90 on Tuesday. SIM Acquisition Corp. I has a 12-month low of $10.10 and a 12-month high of $12.90. The business has a 50 day moving average of $10.99 and a 200-day moving average of $10.84.

SIM Acquisition Corp. I (NASDAQ:SIMA - Get Free Report) last announced its earnings results on Friday, August 14th. The company reported $0.02 earnings per share for the quarter.

SIM Acquisition Corp. I Company Profile

SIM Acquisition Corp. I is a special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol SIMA. The company was formed to identify and complete a business combination, such as a merger, stock exchange, asset acquisition, or similar transaction, with one or more operating businesses.

Unlike an operating company, SIM Acquisition Corp. I does not have an established portfolio of products or services and does not conduct substantial commercial activities of its own. Its principal activities are evaluating potential acquisition targets, negotiating a transaction, and pursuing related corporate and regulatory requirements.

Publicly available information about the company's specific acquisition focus, geographic markets, and leadership is limited.

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