Spark I Acquisition (NASDAQ:SPKL) Issues Earnings Results

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

Spark I Acquisition Price Performance

NASDAQ SPKL traded down $0.01 during trading hours on Tuesday, hitting $11.31. 265 shares of the company were exchanged, compared to its average volume of 1,905. The company has a 50 day moving average of $11.33 and a two-hundred day moving average of $11.35. Spark I Acquisition has a 52-week low of $10.71 and a 52-week high of $12.01.

Hedge Funds Weigh In On Spark I Acquisition

Institutional investors and hedge funds have recently made changes to their positions in the stock. Clear Street Group Inc. acquired a new position in shares of Spark I Acquisition in the 3rd quarter valued at $323,000. Radcliffe Capital Management L.P. purchased a new position in shares of Spark I Acquisition during the second quarter worth about $531,000. StoneX Group Inc. purchased a new position in shares of Spark I Acquisition during the second quarter worth about $700,000. Finally, Berkley W R Corp acquired a new stake in shares of Spark I Acquisition during the fourth quarter worth about $749,000. 34.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Spark I Acquisition Company Profile

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.