Short Interest in SciSparc Ltd. (NASDAQ:SPRC) Expands By 645.3%

SciSparc Ltd. (NASDAQ:SPRC) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 429,662 shares, an increase of 645.3% from the December 15th total of 57,651 shares. Currently, 81.5% of the company’s stock are short sold. Based on an average daily volume of 690,991 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 690,991 shares, the days-to-cover ratio is presently 0.6 days. Currently, 81.5% of the company’s stock are short sold.

SciSparc Price Performance

NASDAQ SPRC traded down $0.01 during midday trading on Monday, hitting $1.45. The company had a trading volume of 80,113 shares, compared to its average volume of 119,431. SciSparc has a twelve month low of $1.25 and a twelve month high of $19.09. The firm has a 50-day moving average price of $1.99 and a 200-day moving average price of $3.86.

SciSparc (NASDAQ:SPRC) last released its earnings results on Tuesday, November 18th. The company reported ($3.08) earnings per share for the quarter. The business had revenue of $0.23 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of SciSparc in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

SciSparc Company Profile

SciSparc AG is a clinical‐stage medical technology company focused on the development and commercialization of extracorporeal shock wave–based neuromodulation devices. Founded in 2016 and headquartered in Switzerland, the company applies proprietary low‐intensity shock wave technology to noninvasively stimulate neural tissue. SciSparc completed its initial public offering on the NASDAQ in 2021 under the ticker SPRC, securing funding to advance its clinical pipeline.

The company’s lead product, the TR100 system, delivers transcranial shock wave stimulation (tSWS) designed to target areas of the brain associated with motor control and cognitive function.