Spark Energy (NASDAQ:SPKE) Stock Passes Below 50-Day Moving Average of $9.79

Spark Energy Inc (NASDAQ:SPKE)’s share price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $9.79 and traded as low as $9.59. Spark Energy shares last traded at $9.68, with a volume of 2,637 shares changing hands.

Several research firms have weighed in on SPKE. BidaskClub cut shares of Spark Energy from a “sell” rating to a “strong sell” rating in a report on Saturday, December 7th. Zacks Investment Research raised shares of Spark Energy from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, January 9th. Finally, ValuEngine cut shares of Spark Energy from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd.

The stock’s 50-day simple moving average is $9.76 and its 200-day simple moving average is $10.21. The stock has a market cap of $340.53 million, a price-to-earnings ratio of -14.06 and a beta of -0.31. The company has a current ratio of 1.96, a quick ratio of 1.93 and a debt-to-equity ratio of 1.53.

Spark Energy (NASDAQ:SPKE) last announced its earnings results on Tuesday, November 5th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.96. Spark Energy had a net margin of 0.84% and a return on equity of 23.57%. The firm had revenue of $207.09 million for the quarter, compared to analyst estimates of $250.70 million. On average, equities research analysts forecast that Spark Energy Inc will post 0.27 earnings per share for the current year.

Several large investors have recently made changes to their positions in the business. State Street Corp grew its position in shares of Spark Energy by 4.0% during the 3rd quarter. State Street Corp now owns 219,182 shares of the utilities provider’s stock worth $2,312,000 after purchasing an additional 8,506 shares in the last quarter. Walleye Trading LLC acquired a new stake in shares of Spark Energy during the 2nd quarter worth approximately $112,000. Walleye Trading Advisors LLC acquired a new stake in shares of Spark Energy during the 2nd quarter worth approximately $115,000. Bank of Montreal Can boosted its position in shares of Spark Energy by 743.5% during the 2nd quarter. Bank of Montreal Can now owns 18,440 shares of the utilities provider’s stock worth $206,000 after acquiring an additional 16,254 shares in the last quarter. Finally, Sanders Morris Harris LLC boosted its position in shares of Spark Energy by 6.2% during the 4th quarter. Sanders Morris Harris LLC now owns 324,557 shares of the utilities provider’s stock worth $2,892,000 after acquiring an additional 18,992 shares in the last quarter. Hedge funds and other institutional investors own 30.57% of the company’s stock.

About Spark Energy (NASDAQ:SPKE)

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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