Trading Report: Today, Spark Energy Inc. (SPKE) Cut to “Strong Sell” at Zacks Investment Research

Today, Spark Energy Inc. (SPKE) Cut to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Spark Energy Inc. (NASDAQ:SPKE) from a hold rating to a strong sell rating in a research report released on Wednesday morning.

According to Zacks, “Spark Energy, Inc. is an independent retail energy services company. It provides residential and commercial customers across the United States with an alternative choice for their natural gas and electricity. The company is involved in the retail distribution of natural gas and electricity. It also offers renewable and carbon neutral products. Spark Energy, Inc. is headquartered in Houston, Texas. “

Other analysts have also recently issued reports about the stock. Wunderlich upped their target price on shares of Spark Energy from $30.00 to $35.00 and gave the company a buy rating in a research report on Friday, August 12th. FBR & Co restated a buy rating and set a $33.00 target price (up from $32.00) on shares of Spark Energy in a research report on Thursday, August 11th. Janney Montgomery Scott upgraded shares of Spark Energy from a neutral rating to a buy rating and set a $34.00 target price on the stock in a research report on Wednesday, July 27th. Finally, Ladenburg Thalmann assumed coverage on shares of Spark Energy in a research report on Friday, August 19th. They issued a neutral rating and a $27.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. The company has an average rating of Hold and an average price target of $30.50.

Shares of Spark Energy (NASDAQ:SPKE) opened at 25.41 on Wednesday. The firm’s 50-day moving average price is $28.42 and its 200 day moving average price is $27.66. Spark Energy has a 52-week low of $15.91 and a 52-week high of $35.63. The company has a market capitalization of $164.99 million, a PE ratio of 13.01 and a beta of -2.09.

A number of institutional investors have recently modified their holdings of the company. Omega Advisors Inc. bought a new position in shares of Spark Energy during the first quarter worth approximately $900,000. Acadian Asset Management LLC increased its position in shares of Spark Energy by 46.7% in the second quarter. Acadian Asset Management LLC now owns 26,997 shares of the company’s stock worth $894,000 after buying an additional 8,597 shares in the last quarter. Spark Investment Management LLC increased its position in shares of Spark Energy by 289.6% in the first quarter. Spark Investment Management LLC now owns 78,700 shares of the company’s stock worth $1,416,000 after buying an additional 58,500 shares in the last quarter. Bogle Investment Management L P DE bought a new position in shares of Spark Energy during the first quarter worth approximately $801,000. Finally, Geode Capital Management LLC increased its position in shares of Spark Energy by 139.1% in the first quarter. Geode Capital Management LLC now owns 44,364 shares of the company’s stock worth $798,000 after buying an additional 25,813 shares in the last quarter. Institutional investors and hedge funds own 31.59% of the company’s stock.

About Spark Energy

Spark Energy, Inc is an independent retail energy services company. The Company provides residential and commercial customers in United States with an alternative for their natural gas and electricity. The Company operates in two segments: Retail Natural Gas Segment and Retail Electricity Segment. It operates in approximately 50 utility service territories across over 20 states and has approximately 328,000 residential customers and over 19,000 commercial customers, which translates to approximately 415,000 renewable energy credits (RCEs).

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