Spark I Acquisition (NASDAQ:SPKLU) Trading 7% Higher – Here’s Why

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

Wall Street Analysts Forecast Growth

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

Spark I Acquisition Trading Up 7.0%

The firm has a fifty day simple moving average of $11.53 and a 200-day simple moving average of $11.05.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Spark I Acquisition stock. Clear Street Group Inc. acquired a new position in shares of Spark I Acquisition Co. (NASDAQ:SPKLU) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 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.