StockNews.com Upgrades Spok (NASDAQ:SPOK) to "Strong-Buy"

Spok (NASDAQ:SPOK - Get Free Report) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report released on Tuesday.

Separately, B. Riley upgraded Spok from a "neutral" rating to a "buy" rating and raised their price objective for the company from $15.00 to $20.00 in a research note on Thursday, February 27th.

Spok Trading Up 13.2 %

SPOK stock traded up $1.89 during trading on Tuesday, hitting $16.23. The company had a trading volume of 327,595 shares, compared to its average volume of 122,998. Spok has a one year low of $13.24 and a one year high of $17.96. The business has a 50-day moving average of $15.84 and a 200-day moving average of $16.01. The stock has a market cap of $331.40 million, a PE ratio of 22.23 and a beta of 0.40.

Spok (NASDAQ:SPOK - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The Wireless communications provider reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.07. The firm had revenue of $36.29 million for the quarter, compared to analyst estimates of $34.00 million. Spok had a net margin of 10.66% and a return on equity of 9.20%. Research analysts forecast that Spok will post 0.76 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPOK. Barclays PLC raised its holdings in shares of Spok by 273.8% in the 3rd quarter. Barclays PLC now owns 24,078 shares of the Wireless communications provider's stock worth $362,000 after purchasing an additional 17,637 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Spok by 67.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 110,997 shares of the Wireless communications provider's stock valued at $1,782,000 after buying an additional 44,896 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Spok by 2,263.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 198,419 shares of the Wireless communications provider's stock valued at $2,988,000 after buying an additional 190,024 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Spok by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 507,836 shares of the Wireless communications provider's stock worth $7,649,000 after acquiring an additional 23,367 shares during the period. Finally, Inspire Investing LLC purchased a new stake in Spok in the 4th quarter worth about $801,000. 50.81% of the stock is currently owned by hedge funds and other institutional investors.

Spok Company Profile

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company's products and services enhance workflows for clinicians and support administrative compliance. It delivers clinical information to care teams when and where it matters to enhance patient outcomes; and provides GenA Pager, a one-way alphanumeric pager.