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

Shares of Spark I Acquisition Corporation (NASDAQ:SPKL) rose 0.1% during trading on Thursday . The stock traded as high as $12.33 and last traded at $12.15. 9,605 shares changed hands during trading, a decline of 94% from the average session volume of 163,865 shares. The stock had previously closed at $12.14.

Analyst Upgrades and Downgrades

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

Spark I Acquisition Stock Performance

The firm has a 50 day moving average of $12.16 and a 200-day moving average of $11.62.

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

Hedge Funds Weigh In On Spark I Acquisition

Several institutional investors have recently bought and sold shares of the stock. Berkley W R Corp boosted its holdings in shares of Spark I Acquisition by 37.9% during the 1st quarter. Berkley W R Corp now owns 90,426 shares of the company’s stock valued at $1,025,000 after purchasing an additional 24,860 shares during the last quarter. Clear Street Group Inc. bought a new stake in shares of Spark I Acquisition in the third quarter worth about $323,000. Radcliffe Capital Management L.P. purchased a new stake in shares of Spark I Acquisition in the second quarter worth about $531,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Spark I Acquisition in the second quarter worth about $1,456,000. 34.90% of the stock is owned by hedge funds and other 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.