Spark Energy’s Quiet Period Will Expire on September 8th (NASDAQ:SPKE)
Spark Energy’s (NASDAQ:SPKE) quiet period is set to expire on Monday, September 8th. Spark Energy had issued 3,000,000 shares in its public offering on July 29th, Analyst Ratings News reports. The total size of the offering was $54,000,000 based on an initial share price of $18.00. During Spark Energy’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Spark Energy in a research note on Monday, August 25th. They set a “buy” rating and a $20.00 price target on the stock. Separately, analysts at Robert W. Baird initiated coverage on shares of Spark Energy in a research note on Monday, August 25th. They set an “outperform” rating and a $20.00 price target on the stock. Finally, analysts at Wunderlich initiated coverage on shares of Spark Energy in a research note on Monday, August 25th. They set a “buy” rating and a $20.00 price target on the stock.
Spark Energy (NASDAQ:SPKE) traded down 0.54% during mid-day trading on Wednesday, hitting $17.555. 7,220 shares of the company’s stock traded hands. Spark Energy has a 52 week low of $16.81 and a 52 week high of $18.38. The stock’s 50-day moving average is $17.56 and its 200-day moving average is $17.56. The company’s market cap is $241.4 million.
Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers in markets across the United States with an alternative choice for their natural gas and electricity.
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