Spark I Acquisition (NASDAQ:SPKL) Announces Earnings Results

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

Spark I Acquisition Price Performance

Shares of Spark I Acquisition stock traded down $0.05 during trading hours on Friday, reaching $11.92. The company had a trading volume of 14,837 shares, compared to its average volume of 25,363. Spark I Acquisition has a one year low of $10.84 and a one year high of $12.30. The business has a fifty day simple moving average of $11.42 and a 200 day simple moving average of $11.34.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Hedge Funds Weigh In On Spark I Acquisition

Large investors have recently made changes to their positions in the stock. Clear Street Group Inc. bought a new position in shares of Spark I Acquisition in the third quarter worth $323,000. Radcliffe Capital Management L.P. bought a new position in shares of Spark I Acquisition in the second quarter worth $531,000. Finally, Berkley W R Corp bought a new position in shares of Spark I Acquisition in the fourth quarter worth $749,000. 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.