Spark I Acquisition (NASDAQ:SPKL) Posts Quarterly Earnings Results

Spark I Acquisition (NASDAQ:SPKL) released its quarterly earnings data on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, FiscalAI reports.

Spark I Acquisition Stock Performance

SPKL traded up $0.02 during trading on Friday, hitting $11.99. 12,138 shares of the company’s stock were exchanged, compared to its average volume of 10,074. Spark I Acquisition has a fifty-two week low of $10.84 and a fifty-two week high of $12.30. The business’s 50 day moving average is $11.41 and its two-hundred day moving average is $11.33.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Spark I Acquisition in a research note on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Spark I Acquisition

A number of institutional investors and hedge funds have recently made changes to their positions in SPKL. Clear Street Group Inc. bought a new position in Spark I Acquisition in the 3rd quarter valued at about $323,000. Radcliffe Capital Management L.P. purchased a new stake in Spark I Acquisition during the second quarter worth about $531,000. Finally, Berkley W R Corp bought a new stake in Spark I Acquisition in the fourth quarter worth about $749,000. Institutional investors and hedge funds own 34.90% of the company’s stock.

About Spark I Acquisition

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.