Spark I Acquisition (NASDAQ:SPKL) Trading Up 0.3% – What’s Next?

Spark I Acquisition Corporation (NASDAQ:SPKL) shares were up 0.3% during trading on Tuesday . The stock traded as high as $11.38 and last traded at $11.3660. Approximately 6,090 shares changed hands during mid-day trading, an increase of 183% from the average daily volume of 2,151 shares. The stock had previously closed at $11.33.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Spark I Acquisition in a report on Friday, March 27th. One investment 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 0.3%

The company’s fifty day moving average price is $11.33 and its 200-day moving average price is $11.36.

Spark I Acquisition (NASDAQ:SPKL) last released its earnings results on Monday, March 30th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Spark I Acquisition

Several large investors have recently made changes to their positions in the business. Berkley W R Corp lifted its holdings in shares of Spark I Acquisition by 558.6% during the second quarter. Berkley W R Corp now owns 983,347 shares of the company’s stock valued at $10,718,000 after purchasing an additional 834,049 shares during the last quarter. StoneX Group Inc. bought a new stake in shares of Spark I Acquisition during the second quarter valued at approximately $700,000. Radcliffe Capital Management L.P. bought a new stake in shares of Spark I Acquisition during the second quarter valued at approximately $531,000. Finally, Clear Street Group Inc. bought a new stake in shares of Spark I Acquisition during the third quarter valued at approximately $323,000. 34.90% of the stock is currently owned by hedge funds and other 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.