Spark Energy (SPKE) Raised to Sell at ValuEngine

Spark Energy (NASDAQ:SPKE) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report issued on Tuesday.

A number of other analysts have also issued reports on the company. BidaskClub lowered Spark Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, January 19th. B. Riley reaffirmed a “hold” rating on shares of Spark Energy in a report on Wednesday, November 7th. Finally, Zacks Investment Research lowered Spark Energy from a “buy” rating to a “hold” rating in a report on Friday, November 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Spark Energy presently has an average rating of “Hold” and a consensus price target of $12.58.

SPKE traded up $0.32 during midday trading on Tuesday, reaching $9.66. The company’s stock had a trading volume of 147,505 shares, compared to its average volume of 140,718. The firm has a market capitalization of $332.04 million, a P/E ratio of -20.13 and a beta of -0.62. The company has a quick ratio of 2.33, a current ratio of 2.36 and a debt-to-equity ratio of 1.01. Spark Energy has a twelve month low of $7.20 and a twelve month high of $13.35.

In other news, Director W Keith Maxwell III acquired 29,212 shares of Spark Energy stock in a transaction on Thursday, December 6th. The stock was bought at an average price of $8.65 per share, for a total transaction of $252,683.80. Following the transaction, the director now owns 1,371,519 shares of the company’s stock, valued at $11,863,639.35. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders acquired a total of 31,212 shares of company stock valued at $289,204 in the last quarter. Corporate insiders own 67.63% of the company’s stock.

Several hedge funds have recently made changes to their positions in SPKE. BlackRock Inc. lifted its position in shares of Spark Energy by 2.9% in the 2nd quarter. BlackRock Inc. now owns 967,722 shares of the utilities provider’s stock worth $9,435,000 after acquiring an additional 27,423 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Spark Energy by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,022,946 shares of the utilities provider’s stock worth $8,440,000 after acquiring an additional 11,585 shares during the period. Cim Investment Mangement Inc. bought a new stake in shares of Spark Energy in the 3rd quarter worth approximately $199,000. Trexquant Investment LP bought a new stake in shares of Spark Energy in the 3rd quarter worth approximately $110,000. Finally, Bridgeway Capital Management Inc. lifted its position in shares of Spark Energy by 30.2% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 56,000 shares of the utilities provider’s stock worth $462,000 after acquiring an additional 13,000 shares during the period. Institutional investors own 31.82% of the company’s stock.

About Spark Energy

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 is involved in the retail distribution of electricity and natural gas to residential, commercial, and industrial customers.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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