Spark I Acquisition (NASDAQ:SPKL) Trading 0.1% Higher – Should You Buy?

Spark I Acquisition Corporation (NASDAQ:SPKL) shares rose 0.1% during mid-day trading on Friday . The stock traded as high as $11.68 and last traded at $11.61. 12,456 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 41,062 shares. The stock had previously closed at $11.60.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Spark I Acquisition Trading Up 0.1%

The company’s 50-day moving average is $12.19 and its two-hundred day moving average is $11.69.

Spark I Acquisition (NASDAQ:SPKL) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC purchased a new stake in shares of Spark I Acquisition during the second quarter valued at $1,456,000. Berkley W R Corp raised its position in Spark I Acquisition by 37.9% in the 1st quarter. Berkley W R Corp now owns 90,426 shares of the company’s stock worth $1,025,000 after buying an additional 24,860 shares during the last quarter. Finally, Radcliffe Capital Management L.P. purchased a new position in Spark I Acquisition in the 2nd quarter worth about $531,000. 34.90% of the stock is owned by institutional investors.

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.