Spark Energy (NASDAQ:SPKE) Downgraded by BidaskClub to “Hold”

Spark Energy (NASDAQ:SPKE) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Wednesday, June 26th, BidAskClub reports.

Several other equities analysts have also recently weighed in on SPKE. B. Riley restated a “buy” rating and issued a $3.50 price objective on shares of Plug Power in a report on Thursday, March 14th. ValuEngine upgraded Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. Finally, Zacks Investment Research cut HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th.

SPKE stock traded up $0.15 during trading hours on Wednesday, reaching $11.34. 31,118 shares of the stock were exchanged, compared to its average volume of 119,244. The company has a market cap of $389.58 million, a P/E ratio of -16.43 and a beta of -0.39. The firm’s 50-day simple moving average is $10.90. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.96 and a current ratio of 1.97. Spark Energy has a 12 month low of $7.20 and a 12 month high of $11.71.

Spark Energy (NASDAQ:SPKE) last announced its quarterly earnings data on Tuesday, May 7th. The utilities provider reported ($0.09) earnings per share for the quarter. The company had revenue of $242.71 million during the quarter, compared to the consensus estimate of $253.80 million. Spark Energy had a net margin of 1.24% and a return on equity of 11.69%. Equities analysts expect that Spark Energy will post -0.05 earnings per share for the current year.

In other Spark Energy news, Director W Keith Maxwell III purchased 11,476 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was bought at an average cost of $15.23 per share, for a total transaction of $174,779.48. Following the completion of the transaction, the director now owns 2,371,172 shares in the company, valued at $36,112,949.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders bought 127,631 shares of company stock valued at $1,376,431. 66.98% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in SPKE. Cambridge Investment Research Advisors Inc. bought a new position in Spark Energy in the first quarter valued at approximately $816,000. JPMorgan Chase & Co. grew its stake in shares of Spark Energy by 7.0% in the first quarter. JPMorgan Chase & Co. now owns 1,266,185 shares of the utilities provider’s stock worth $11,282,000 after purchasing an additional 82,771 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of Spark Energy by 42.0% in the fourth quarter. GSA Capital Partners LLP now owns 127,100 shares of the utilities provider’s stock worth $944,000 after purchasing an additional 37,600 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Spark Energy in the fourth quarter worth $181,000. Finally, Hancock Whitney Corp bought a new stake in shares of Spark Energy in the fourth quarter worth $153,000. 30.76% of the stock is currently owned by institutional investors and hedge funds.

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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