Spark I Acquisition (NASDAQ:SPKL) Posts Earnings Results

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

Spark I Acquisition Trading Up 0.4%

Shares of Spark I Acquisition stock opened at $11.36 on Wednesday. The business has a 50-day moving average price of $11.33 and a two-hundred day moving average price of $11.35. Spark I Acquisition has a 1-year low of $10.71 and a 1-year high of $12.01.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Spark I Acquisition

Several institutional investors and hedge funds have recently made changes to their positions in the business. Berkley W R Corp increased its position in shares of Spark I Acquisition by 558.6% during the second quarter. Berkley W R Corp now owns 983,347 shares of the company’s stock worth $10,718,000 after acquiring an additional 834,049 shares in the last quarter. StoneX Group Inc. acquired a new position in Spark I Acquisition during the 2nd quarter valued at about $700,000. Radcliffe Capital Management L.P. bought a new stake in Spark I Acquisition during the 2nd quarter worth approximately $531,000. Finally, Clear Street Group Inc. purchased a new stake in shares of Spark I Acquisition in the third quarter worth approximately $323,000. Institutional investors 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.