Spark I Acquisition (NASDAQ:SPKL) Trading at $11.58

Spark I Acquisition Corporation (NASDAQ:SPKL) was down 0% during mid-day trading on Wednesday. The stock traded as low as $11.56 and last traded at $11.5770. Approximately 72,465 shares changed hands during trading, an increase of 126% from the average session volume of 32,122 shares. The stock had previously closed at $11.58.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Spark I Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Spark I Acquisition Trading Up 0.7%

The firm has a fifty day simple moving average of $11.59 and a 200-day simple moving average of $11.79.

Hedge Funds Weigh In On Spark I Acquisition

A hedge fund recently bought a new position in Spark I Acquisition stock. FNY Investment Advisers LLC bought a new stake in shares of Spark I Acquisition Corporation (NASDAQ:SPKL) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 116,031 shares of the company’s stock, valued at approximately $1,456,000. FNY Investment Advisers LLC owned 1.34% of Spark I Acquisition at the end of the most recent quarter. Institutional investors own 34.90% of the company’s stock.

Spark I Acquisition Company Profile

Spark I Acquisition Corporation is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. The company does not operate a commercial business of its own and therefore does not offer products or services to customers.

Its principal activity is evaluating potential merger, acquisition, or similar transactions. Until a transaction is completed, Spark I Acquisition Corporation’s activities generally consist of sourcing and assessing target companies, conducting due diligence, and pursuing the approval and closing requirements associated with a proposed business combination.

The company’s public filings provide limited information about its operating activities, geographic markets, and leadership beyond its role as an acquisition vehicle.