Spark New Zealand Ltd (NASDAQ:SPKKY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday.

According to Zacks, “Spark New Zealand Limited provides digital services. The company operates through five segments: Retail, Wholesale & International, Gen-i, AAPT, and Technology & Shared Services. It provides fixed line, mobile, and Internet services, voice, interconnect, managed data, and international products and services and telecommunication services. The Company integrates IT and telecommunications services to provide converged information and communication technologies solutions. Spark New Zealand Limited, formerly known as Telecom Corporation of New Zealand Limited, is headquartered in Auckland, New Zealand. “

Spark New Zealand (NASDAQ:SPKKY) traded down 0.78% during trading on Thursday, reaching $13.94. The company had a trading volume of 37,978 shares. The firm’s 50 day moving average price is $14.14 and its 200 day moving average price is $13.31. The firm has a market capitalization of $25.55 billion and a PE ratio of 83.98. Spark New Zealand has a 12-month low of $11.65 and a 12-month high of $14.62.

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About Spark New Zealand

Spark New Zealand Limited is a supplier of telecommunications and digital services in New Zealand. The Company operates through three segments: Spark Home, Mobile & Business; Spark Digital, and Spark Connect. The Spark Home, Mobile & Business segment provides fixed line, mobile and Internet services to consumers and the small medium business market, and includes Spark Ventures.

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