Spark I Acquisition (NASDAQ:SPKL) Releases Earnings Results

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

Spark I Acquisition Stock Performance

Shares of NASDAQ:SPKL traded up $0.07 during mid-day trading on Thursday, reaching $11.97. The stock had a trading volume of 48,216 shares, compared to its average volume of 10,149. The firm has a 50 day simple moving average of $11.39 and a two-hundred day simple moving average of $11.33. Spark I Acquisition has a twelve month low of $10.84 and a twelve month high of $12.30.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Spark I Acquisition in a research report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Trading of Spark I Acquisition

A number of large investors have recently bought and sold shares of SPKL. Radcliffe Capital Management L.P. bought a new stake in Spark I Acquisition during the 2nd quarter worth approximately $531,000. Clear Street Group Inc. bought a new stake in Spark I Acquisition during the 3rd quarter worth approximately $323,000. Finally, Berkley W R Corp bought a new stake in Spark I Acquisition during the 4th quarter worth approximately $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.