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Is SciSparc Ltd. (NASDAQ: SPRC) Still A Hot Buy?

SciSparc Ltd. (NASDAQ:SPRC) traded at $0.99 at close of the session on Monday, 01/23/23, made an upward move of 17.16% on its previous day’s price.

Looking at the stock we see that its previous close was $0.84 with the day’s price range being $0.86 – $1.1191. In terms of its 52-week price range, SPRC has a high of $6.99 and a low of $0.61. The company’s stock has gained about 19.24% over that past 30 days.

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SciSparc Ltd. has a market cap of $3.50 million.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the SPRC stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of 50% Sell.

Based on estimates by 1 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 0 have rated the SciSparc Ltd. (SPRC) stock as a Hold, while 1 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Buy and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 19.54% off its SMA20 and 6.85% from its 50-day simple moving average. The RSI (14) is pointing at 57.10 while the volatility over the past week is 18.27% and jumps to 13.20% over the past one month. The average price target for the stock over the next 12 months is $20.00, with the estimates having a low of $20.00 and a high of $20.00. These price ends are -1920.2% and -1920.2% off the current price level respectively, although investors could be excited at the prospect of a -1920.2% if the SPRC share price touches on the median price of $20.00.

Coming back to SciSparc Ltd. (NASDAQ:SPRC), we note that the average 3-month trading volume was 1.05 million, while that of the preceding 10-day period stands at 0.49 million. Current shares outstanding are 3.53 million.

The insiders hold 6.47% of the company’s shares while institutions hold 1.80%. The data shows that short shares as of Dec 29, 2022, stood at 0.1 million at a short ratio of 0.37. This represents a 2.93% short interest in shares outstanding on Dec 29, 2022. Shares short fall in December from the previous month at 0.11 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 30.92% up in year-to-date price movement.

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