Spark I Acquisition (NASDAQ:SPKL) Announces Earnings Results

Spark I Acquisition (NASDAQ:SPKL) announced its earnings results on Monday. The company reported ($0.01) earnings per share for the quarter, FiscalAI reports.

Spark I Acquisition Trading Down 0.0%

Shares of NASDAQ:SPKL traded down $0.01 on Tuesday, hitting $11.31. 265 shares of the company’s stock were exchanged, compared to its average volume of 1,905. Spark I Acquisition has a 1-year low of $10.71 and a 1-year high of $12.01. The firm’s 50-day moving average is $11.33 and its 200 day moving average is $11.35.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a research report on Friday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Spark I Acquisition presently has an average rating of “Sell”.

Institutional Investors Weigh In On Spark I Acquisition

Several institutional investors have recently added to or reduced their stakes in SPKL. Clear Street Group Inc. acquired a new position in Spark I Acquisition in the third quarter valued at approximately $323,000. Radcliffe Capital Management L.P. purchased a new stake in shares of Spark I Acquisition during the 2nd quarter worth approximately $531,000. StoneX Group Inc. acquired a new position in shares of Spark I Acquisition in the 2nd quarter valued at $700,000. Finally, Berkley W R Corp acquired a new position in shares of Spark I Acquisition in the 4th quarter valued at $749,000. Hedge funds and other institutional investors own 34.90% of the company’s stock.

Spark I Acquisition Company Profile

Spark I Acquisition Corp. is a Delaware-incorporated special purpose acquisition company (SPAC) listed on the NASDAQ under the ticker SPKL. Formed in 2020, the company has no commercial operations of its own and was established to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank check company, Spark I Acquisition holds funds in trust until it identifies and completes a business combination target.

The company’s primary focus is on identifying high-growth businesses, with an emphasis on sectors such as technology, industrials and consumer products.