SIM Acquisition Corp. I (NASDAQ:SIMA) Issues Quarterly Earnings Results

SIM Acquisition Corp. I (NASDAQ:SIMA) released its quarterly earnings results on Friday. The company reported $0.02 earnings per share (EPS) for the quarter, FiscalAI reports.

SIM Acquisition Corp. I Price Performance

SIM Acquisition Corp. I stock opened at $11.01 on Friday. The firm has a 50-day moving average price of $10.90 and a two-hundred day moving average price of $10.81. SIM Acquisition Corp. I has a 52-week low of $10.10 and a 52-week high of $12.90.

Analyst Ratings Changes

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

Institutional Trading of SIM Acquisition Corp. I

Several institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC boosted its holdings in shares of SIM Acquisition Corp. I by 22.4% during the 3rd quarter. Citadel Advisors LLC now owns 15,460 shares of the company’s stock worth $162,000 after buying an additional 2,826 shares during the period. Shaolin Capital Management LLC bought a new stake in SIM Acquisition Corp. I during the 2nd quarter worth about $1,042,000. Sona Asset Management US LLC acquired a new position in shares of SIM Acquisition Corp. I in the first quarter valued at $1,072,000. Sculptor Capital LP bought a new position in shares of SIM Acquisition Corp. I in the second quarter worth $1,826,000. Finally, L1 Global Manager Pty Ltd bought a new position in SIM Acquisition Corp. I in the 4th quarter valued at approximately $2,118,000.

About SIM Acquisition Corp. I

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.