B. Riley Financial Downgrades Spok (NASDAQ:SPOK) to Neutral

Spok (NASDAQ:SPOK) was downgraded by equities researchers at B. Riley Financial from a “buy” rating to a “neutral” rating in a report released on Thursday, MarketBeat.com reports. They currently have a $14.00 price target on the Wireless communications provider’s stock, down from their prior price target of $21.00. B. Riley Financial’s price target indicates a potential upside of 15.32% from the company’s previous close.

A number of other brokerages also recently issued reports on SPOK. Wall Street Zen downgraded shares of Spok from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Spok in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.00.

Spok Price Performance

Spok stock opened at $12.14 on Thursday. The firm has a market capitalization of $250.08 million, a P/E ratio of 15.97 and a beta of 0.41. Spok has a one year low of $11.68 and a one year high of $19.31. The business has a fifty day moving average price of $13.28 and a 200-day moving average price of $14.81.

Spok (NASDAQ:SPOK) last issued its quarterly earnings data on Wednesday, February 25th. The Wireless communications provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Spok had a return on equity of 10.56% and a net margin of 11.37%.The company had revenue of $33.86 million for the quarter, compared to analysts’ expectations of $34.60 million. Sell-side analysts expect that Spok will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Spok

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its holdings in shares of Spok by 305.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,796 shares of the Wireless communications provider’s stock worth $31,000 after acquiring an additional 1,353 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Spok by 69.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,465 shares of the Wireless communications provider’s stock valued at $33,000 after acquiring an additional 1,013 shares during the last quarter. Ameritas Investment Partners Inc. raised its position in Spok by 41.7% during the second quarter. Ameritas Investment Partners Inc. now owns 2,080 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 612 shares in the last quarter. McIlrath & Eck LLC raised its position in Spok by 49.3% during the third quarter. McIlrath & Eck LLC now owns 2,166 shares of the Wireless communications provider’s stock valued at $37,000 after purchasing an additional 715 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Spok by 182.8% during the fourth quarter. Royal Bank of Canada now owns 3,100 shares of the Wireless communications provider’s stock worth $40,000 after purchasing an additional 2,004 shares during the last quarter. Institutional investors own 50.81% of the company’s stock.

Spok Company Profile

Spok, Inc is a publicly traded healthcare communications and collaboration company headquartered in Bellevue, Washington. The company specializes in providing secure, real-time clinical communication solutions designed to streamline workflows and enhance patient care. Serving hospitals, health systems, and other healthcare organizations across North America and selected international markets, Spok has positioned itself as a leading provider of secure messaging and nurse call integration.

Spok’s flagship offering, the Spok Care Connect platform, delivers a suite of integrated products, including secure text and voice messaging, alarm and event management, call center solutions, and digital signage.