SIM Acquisition Corp. I (NASDAQ:SIMA) Stock Short Interest Falls 88.4%

Key Points

• Short interest in SIM Acquisition Corp. I fell 88.4% to 461 shares as of September 30, down from 3,960 shares on September 15. Short interest represented 0.0% of shares, with a days-to-cover ratio of 0.1.
• Institutional investors showed increased interest, including Berkley W R Corp., which raised its stake by 74.9% to 912,286 shares, while several other firms initiated or expanded positions.
• SIMA shares opened at $11.05 and have traded between $10.10 and $12.90 over the past year. The stock carries a consensus Hold rating after Weiss Ratings upgraded it from Sell to Hold.

SIM Acquisition Corp. I (NASDAQ:SIMA - Get Free Report) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 461 shares, a decrease of 88.4% from the September 15th total of 3,960 shares. Currently, 0.0% of the company's shares are short sold. Based on an average trading volume of 3,562 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On SIM Acquisition Corp. I

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sona Asset Management US LLC bought a new stake in shares of SIM Acquisition Corp. I in the first quarter worth $1,072,000. Berkley W R Corp increased its stake in SIM Acquisition Corp. I by 74.9% in the 1st quarter. Berkley W R Corp now owns 912,286 shares of the company's stock valued at $9,780,000 after buying an additional 390,768 shares during the last quarter. DLD Asset Management LP bought a new stake in SIM Acquisition Corp. I during the 1st quarter worth about $5,375,000. Radcliffe Capital Management L.P. boosted its stake in shares of SIM Acquisition Corp. I by 5.2% during the 4th quarter. Radcliffe Capital Management L.P. now owns 536,322 shares of the company's stock worth $5,680,000 after buying an additional 26,290 shares during the last quarter. Finally, L1 Global Manager Pty Ltd acquired a new position in shares of SIM Acquisition Corp. I during the 4th quarter worth about $2,118,000.

SIM Acquisition Corp. I Stock Performance

Shares of NASDAQ:SIMA opened at $11.05 on Friday. SIM Acquisition Corp. I has a 12 month low of $10.10 and a 12 month high of $12.90. The company's fifty day simple moving average is $10.98 and its 200 day simple moving average is $10.89.

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.

Analysts Set New Price Targets

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

SIM Acquisition Corp. I Company Profile

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.

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