Spark Energy (NASDAQ:SPKE) Rating Lowered to Strong Sell at BidaskClub

Spark Energy (NASDAQ:SPKE) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report released on Tuesday, BidAskClub reports.

A number of other analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Spark Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. ValuEngine downgraded shares of Spark Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.

Shares of NASDAQ:SPKE traded down $0.20 during mid-day trading on Tuesday, reaching $9.80. The stock had a trading volume of 79,229 shares, compared to its average volume of 114,090. The firm has a market cap of $333.86 million, a PE ratio of -14.20 and a beta of -0.35. The firm has a 50 day simple moving average of $10.34 and a two-hundred day simple moving average of $10.10. The company has a current ratio of 1.45, a quick ratio of 1.44 and a debt-to-equity ratio of 1.82. Spark Energy has a twelve month low of $7.20 and a twelve month high of $11.71.



In related news, Director W Keith Maxwell III bought 2,850 shares of the company’s stock in a transaction on Wednesday, June 19th. The shares were purchased at an average cost of $11.13 per share, for a total transaction of $31,720.50. Following the acquisition, the director now owns 2,521,265 shares of the company’s stock, valued at approximately $28,061,679.45. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired a total of 77,818 shares of company stock worth $810,759 over the last 90 days. Corporate insiders own 66.98% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of SPKE. Walleye Trading LLC acquired a new stake in shares of Spark Energy in the second quarter valued at approximately $112,000. Bank of America Corp DE raised its holdings in shares of Spark Energy by 13.5% in the fourth quarter. Bank of America Corp DE now owns 15,446 shares of the utilities provider’s stock valued at $114,000 after purchasing an additional 1,840 shares during the last quarter. Walleye Trading Advisors LLC acquired a new stake in shares of Spark Energy in the second quarter valued at approximately $115,000. Meeder Asset Management Inc. acquired a new stake in shares of Spark Energy in the second quarter valued at approximately $120,000. Finally, Dupont Capital Management Corp acquired a new stake in shares of Spark Energy in the first quarter valued at approximately $123,000. Institutional investors own 29.22% of the company’s stock.

Spark Energy Company Profile

Spark Energy, Inc, through its subsidiaries, operates as an independent retail energy services company in the United States. It operates through two segments, Retail Electricity and Retail Natural Gas. The company engages in the retail distribution of electricity and natural gas to residential and commercial customers.

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