Spok (NASDAQ:SPOK) Stock Rating Upgraded by B. Riley

Spok (NASDAQ:SPOK) was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating in a report released on Thursday,Finviz reports. The firm presently has a $20.00 price objective on the Wireless communications provider’s stock, up from their prior price objective of $15.00. B. Riley’s target price indicates a potential upside of 20.92% from the company’s previous close.

Spok Price Performance

NASDAQ SPOK opened at $16.54 on Thursday. The stock has a market capitalization of $335.30 million, a PE ratio of 22.66 and a beta of 0.33. The business has a 50 day simple moving average of $16.20 and a two-hundred day simple moving average of $15.75. Spok has a 1-year low of $13.24 and a 1-year high of $18.14.

Spok (NASDAQ:SPOK) last issued its quarterly earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Spok had a return on equity of 9.20% and a net margin of 10.66%. On average, analysts anticipate that Spok will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC increased its position in Spok by 4.2% during the 3rd quarter. HighTower Advisors LLC now owns 673,268 shares of the Wireless communications provider’s stock valued at $10,141,000 after buying an additional 27,048 shares in the last quarter. Geode Capital Management LLC increased its position in Spok by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 514,427 shares of the Wireless communications provider’s stock valued at $8,258,000 after buying an additional 6,591 shares in the last quarter. Foundry Partners LLC increased its position in Spok by 1.0% during the 3rd quarter. Foundry Partners LLC now owns 437,255 shares of the Wireless communications provider’s stock valued at $6,585,000 after buying an additional 4,120 shares in the last quarter. State Street Corp grew its stake in Spok by 3.1% during the 3rd quarter. State Street Corp now owns 415,876 shares of the Wireless communications provider’s stock valued at $6,263,000 after purchasing an additional 12,467 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Spok by 7.6% during the 4th quarter. JPMorgan Chase & Co. now owns 213,575 shares of the Wireless communications provider’s stock valued at $3,428,000 after purchasing an additional 15,156 shares during the last quarter. 50.81% of the stock is owned by institutional investors and hedge funds.

About Spok

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company's products and services enhance workflows for clinicians and support administrative compliance. It delivers clinical information to care teams when and where it matters to enhance patient outcomes; and provides GenA Pager, a one-way alphanumeric pager.