SPACSphere Acquisition Corp. (NASDAQ:SSAC) Stock Short Interest Declines 44.1%

SPACSphere Acquisition Corp. (NASDAQ:SSAC) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totaling 13,072 shares, a decline of 44.1% from the August 31st total of 23,390 shares. Based on an average daily volume of 47,955 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

SPACSphere Acquisition Stock Performance

Shares of SSAC stock opened at $10.13 on Thursday. SPACSphere Acquisition has a 12-month low of $9.85 and a 12-month high of $10.14. The firm has a 50 day moving average price of $10.08 and a two-hundred day moving average price of $9.99.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of SPACSphere Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Trading of SPACSphere Acquisition

An institutional investor recently bought a new stake in SPACSphere Acquisition stock. Lineage Point Capital LP purchased a new stake in SPACSphere Acquisition Corp. (NASDAQ:SSAC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 763,000 shares of the company’s stock, valued at approximately $7,615,000. SPACSphere Acquisition accounts for approximately 1.6% of Lineage Point Capital LP’s investment portfolio, making the stock its 7th biggest position. Lineage Point Capital LP owned about 4.17% of SPACSphere Acquisition at the end of the most recent reporting period.

SPACSphere Acquisition Company Profile

SPACSphere Acquisition Corp is a blank check company.