Spark I Acquisition (NASDAQ:SPKLU) Trading 7% Higher – Time to Buy?

Shares of Spark I Acquisition Co. (NASDAQ:SPKLU) were up 7% during mid-day trading on Friday . The stock traded as high as $11.90 and last traded at $11.90. Approximately 200 shares changed hands during trading, a decline of 62% from the average daily volume of 522 shares. The stock had previously closed at $11.12.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Spark I Acquisition in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Spark I Acquisition currently has a consensus rating of “Sell”.

Spark I Acquisition Trading Up 7.0%

The stock’s 50 day moving average price is $11.18 and its 200 day moving average price is $10.93.

Hedge Funds Weigh In On Spark I Acquisition

A hedge fund recently bought a new stake in Spark I Acquisition stock. Clear Street Group Inc. bought a new stake in Spark I Acquisition Co. (NASDAQ:SPKLU) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,973 shares of the company’s stock, valued at approximately $193,000.

About Spark I Acquisition

Spark I Acquisition Corp. is a special purpose acquisition company (SPAC) formed to effectuate a merger, capital stock exchange, asset acquisition or similar business combination with one or more businesses. The company executed its initial public offering in late 2020 under the ticker SPKLU on the Nasdaq Stock Market. As a blank-check vehicle, Spark I Acquisition does not currently conduct operations of its own but seeks to identify and combine with a target company that offers substantial growth potential and strategic alignment with its investment criteria.

The SPAC is sponsored by Spark Impact, an asset management and investment firm known for integrating environmental, social and governance (ESG) principles into its investment process.