Spark I Acquisition (NASDAQ:SPKLU) Trading 7% Higher – What’s Next?

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

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Spark I Acquisition in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Spark I Acquisition Price Performance

The stock’s 50-day moving average price is $11.53 and its 200-day moving average price is $11.05.

Hedge Funds Weigh In On Spark I Acquisition

A hedge fund recently bought a new stake in Spark I Acquisition stock. Clear Street Group Inc. purchased a new position in shares of Spark I Acquisition Co. (NASDAQ:SPKLU) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 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.