Weiss Ratings Reaffirms Sell (D) Rating for Spark I Acquisition (NASDAQ:SPKL)

Key Points

• Weiss Ratings has reaffirmed a "sell (d)" rating for Spark I Acquisition (NASDAQ: SPKL), indicating ongoing concerns about the company's performance.
• As of Wednesday, Spark I Acquisition's stock price is down 2.0%, trading at $11.61, with a 1-year low of $10.46 and a 1-year high of $12.01.
• Institutional investors have increased their stakes in Spark I Acquisition, with notable increases such as Wolverine Asset Management lifting theirs by 43.4% in Q1 and Berkley W R Corp raising theirs by 558.6% in Q2.

Spark I Acquisition (NASDAQ:SPKL - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Spark I Acquisition Stock Down 2.0%

Spark I Acquisition stock opened at $11.61 on Wednesday. Spark I Acquisition has a 1-year low of $10.46 and a 1-year high of $12.01. The company has a fifty day simple moving average of $11.18 and a 200 day simple moving average of $10.97.

Institutional Trading of Spark I Acquisition

A number of large investors have recently added to or reduced their stakes in SPKL. Wolverine Asset Management LLC lifted its stake in Spark I Acquisition by 43.4% in the first quarter. Wolverine Asset Management LLC now owns 682,588 shares of the company's stock valued at $7,379,000 after acquiring an additional 206,713 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in Spark I Acquisition by 137.4% in the first quarter. Mizuho Securities USA LLC now owns 362,265 shares of the company's stock valued at $3,876,000 after acquiring an additional 209,642 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in Spark I Acquisition in the second quarter valued at $1,635,000. StoneX Group Inc. acquired a new stake in Spark I Acquisition in the second quarter valued at $700,000. Finally, Berkley W R Corp lifted its stake in Spark I Acquisition by 558.6% in the second quarter. Berkley W R Corp now owns 983,347 shares of the company's stock valued at $10,718,000 after acquiring an additional 834,049 shares during the last quarter. Institutional investors and hedge funds own 34.90% of the company's stock.

About Spark I Acquisition

Spark I Acquisition Corporation does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar combination with one or more businesses or assets. The company was incorporated in 2021 and is based in Palo Alto, California.

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