Spark Energy (SPKE) Upgraded by BidaskClub to Hold

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Spark Energy (NASDAQ:SPKE) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, B. Riley set a $11.00 target price on Spark Energy and gave the company a “hold” rating in a research report on Monday, August 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $14.50.

Shares of NASDAQ:SPKE opened at $8.02 on Friday. Spark Energy has a 1 year low of $7.73 and a 1 year high of $15.30. The company has a market cap of $287.74 million, a PE ratio of -16.71 and a beta of -1.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.18 and a current ratio of 2.20.

Spark Energy (NASDAQ:SPKE) last announced its earnings results on Thursday, August 2nd. The utilities provider reported $0.41 earnings per share (EPS) for the quarter. Spark Energy had a return on equity of 21.26% and a net margin of 1.10%. The firm had revenue of $232.25 million for the quarter, compared to analyst estimates of $200.33 million. Sell-side analysts expect that Spark Energy will post -0.48 EPS for the current fiscal year.

In related news, VP Gil Melman sold 32,361 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $8.78, for a total value of $284,129.58. Following the completion of the transaction, the vice president now directly owns 16,962 shares of the company’s stock, valued at approximately $148,926.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director W Keith Maxwell III acquired 10,000 shares of Spark Energy stock in a transaction that occurred on Monday, September 24th. The stock was purchased at an average cost of $8.10 per share, with a total value of $81,000.00. Following the completion of the purchase, the director now owns 1,010,240 shares in the company, valued at approximately $8,182,944. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 180,098 shares of company stock valued at $1,472,084 and sold 68,223 shares valued at $597,922. 67.63% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its stake in Spark Energy by 2,619.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 11,420 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 11,000 shares during the last quarter. Citadel Advisors LLC acquired a new position in Spark Energy in the 2nd quarter valued at $118,000. Dynamic Technology Lab Private Ltd acquired a new position in Spark Energy in the 1st quarter valued at $135,000. Baird Financial Group Inc. acquired a new position in Spark Energy in the 2nd quarter valued at $138,000. Finally, Element Capital Management LLC acquired a new position in Spark Energy in the 1st quarter valued at $176,000. 32.49% of the stock is owned by hedge funds and other institutional investors.

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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