Spark I Acquisition (NASDAQ:SPKL) Trading Up 1.1% – Here’s What Happened

Spark I Acquisition Corporation (NASDAQ:SPKL)’s share price was up 1.1% on Thursday . The company traded as high as $11.45 and last traded at $11.50. Approximately 4,120 shares traded hands during trading, a decline of 66% from the average daily volume of 11,977 shares. The stock had previously closed at $11.37.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Spark I Acquisition in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Spark I Acquisition presently has an average rating of “Sell”.

Spark I Acquisition Trading Up 1.1%

The stock’s 50-day simple moving average is $11.37 and its two-hundred day simple moving average is $11.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPKL. Wolverine Asset Management LLC increased its holdings in shares of Spark I Acquisition by 43.4% during the 1st quarter. Wolverine Asset Management LLC now owns 682,588 shares of the company’s stock worth $7,379,000 after purchasing an additional 206,713 shares during the period. Mizuho Securities USA LLC increased its holdings in shares of Spark I Acquisition by 137.4% during the 1st quarter. Mizuho Securities USA LLC now owns 362,265 shares of the company’s stock worth $3,876,000 after purchasing an additional 209,642 shares during the period. Alberta Investment Management Corp bought a new position in shares of Spark I Acquisition during the 2nd quarter worth about $1,635,000. StoneX Group Inc. bought a new position in shares of Spark I Acquisition during the 2nd quarter worth about $700,000. Finally, Berkley W R Corp increased its holdings in shares of Spark I Acquisition by 558.6% during the 2nd quarter. Berkley W R Corp now owns 983,347 shares of the company’s stock worth $10,718,000 after purchasing an additional 834,049 shares during the period. Institutional investors own 34.90% of the company’s stock.

Spark I Acquisition Company Profile

Spark I Acquisition Corporation does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar combination with one or more businesses or assets. The company was incorporated in 2021 and is based in Palo Alto, California.