Notable Price Action: Traders Are Bearish Spark Energy Inc After Today’s Gap Down

Notable Price Action: Traders Are Bearish Spark Energy Inc After Today's Gap Down

The stock of Spark Energy Inc (NASDAQ:SPKE) gapped down by $0.1 today and has $24.23 target or 12.00% below today’s $27.53 share price. The 5 months technical chart setup indicates high risk for the $396.21 million company. The gap down was reported on Oct, 4 by Barchart.com. If the $24.23 price target is reached, the company will be worth $47.55 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 5.49% or $1.6 during the last trading session, hitting $27.53. About 222,736 shares traded hands or 33.28% up from the average. Spark Energy Inc (NASDAQ:SPKE) has risen 14.47% since March 1, 2016 and is uptrending. It has outperformed by 2.25% the S&P500.

Analysts await Spark Energy Inc (NASDAQ:SPKE) to report earnings on November, 9. They expect $0.39 earnings per share, up 25.81% or $0.08 from last year’s $0.31 per share. SPKE’s profit will be $5.61 million for 17.65 P/E if the $0.39 EPS becomes a reality. After $0.30 actual earnings per share reported by Spark Energy Inc for the previous quarter, Wall Street now forecasts 30.00% EPS growth.

Spark Energy Inc (NASDAQ:SPKE) Ratings Coverage

Out of 5 analysts covering Spark Energy (NASDAQ:SPKE), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Spark Energy has been the topic of 11 analyst reports since August 18, 2015 according to StockzIntelligence Inc. Ladenburg Thalmann initiated the shares of SPKE in a report on Friday, August 19 with “Neutral” rating. The rating was reinitiated by Wunderlich with “Buy” on Thursday, April 7. FBR Capital maintained Spark Energy Inc (NASDAQ:SPKE) rating on Friday, May 6. FBR Capital has “Outperform” rating and $32 price target. The rating was initiated by Janney Capital with “Buy” on Thursday, September 24. FBR Capital initiated the shares of SPKE in a report on Tuesday, April 26 with “Outperform” rating. The firm has “Neutral” rating by Robert W. Baird given on Wednesday, February 3. Janney Capital downgraded the shares of SPKE in a report on Friday, June 10 to “Neutral” rating. The firm earned “Hold” rating on Tuesday, August 18 by Zacks. The stock of Spark Energy Inc (NASDAQ:SPKE) earned “Buy” rating by Wunderlich on Friday, August 12. Wunderlich maintained the stock with “Buy” rating in Friday, May 6 report.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 3.14 in 2016 Q2. Its down 1.11, from 4.25 in 2016Q1. The ratio dived, as 5 funds sold all Spark Energy Inc shares owned while 17 reduced positions. 34 funds bought stakes while 35 increased positions. They now own 8.94 million shares or 44.01% more from 6.21 million shares in 2016Q1.
Tiaa Cref Invest Mgmt Ltd last reported 36,968 shares in the company. Goldman Sachs Group Inc Inc reported 53,976 shares or 0% of all its holdings. Citadel Advisors Ltd Liability last reported 0% of its portfolio in the stock. The Texas-based Bridgeway Capital Management has invested 0.01% in Spark Energy Inc (NASDAQ:SPKE). Millennium Mgmt Ltd Liability Com accumulated 0% or 18,981 shares. Blackrock Institutional Tru Na holds 0% of its portfolio in Spark Energy Inc (NASDAQ:SPKE) for 222,567 shares. Highland Management Ltd Co accumulated 11,744 shares or 0.03% of the stock. Moreover, Zacks Mngmt has 0.01% invested in Spark Energy Inc (NASDAQ:SPKE) for 12,465 shares. Hudock Capital Grp Limited Liability Co last reported 0% of its portfolio in the stock. Wellington Group Limited Liability Partnership holds 0% or 7,572 shares in its portfolio. Bnp Paribas Arbitrage accumulated 0% or 189 shares. Blackrock owns 28,947 shares or 0% of their US portfolio. Geode Cap Mngmt Limited Liability Company accumulated 0% or 65,491 shares. The Massachusetts-based Numeric Ltd Llc has invested 0.03% in Spark Energy Inc (NASDAQ:SPKE). Babson Capital Mngmt Limited Liability Com has 0.01% invested in the company for 8,600 shares.

Insider Transactions: Since May 10, 2016, the stock had 1 insider buy, and 9 sales for $21.10 million net activity. Maxwell W Keith III sold $943,105 worth of stock. The insider Jones James G II bought $12,990.

Another recent and important Spark Energy Inc (NASDAQ:SPKE) news was published by Nasdaq.com which published an article titled: “Spark Energy, Inc. Announces Closing of Provider Acquisition and Date for …” on August 01, 2016.

SPKE Company Profile

Spark Energy, Inc., incorporated on April 22, 2014, is an independent retail energy services company. The Firm provides residential and commercial clients in the United States with an alternative for their natural gas and electricity. The Firm operates in two divisions: 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 clients and over 19,000 commercial customers, which translates to approximately 415,000 renewable energy credits (RCEs). The Firm serves natural gas clients in over 10 states, including Arizona, California, Colorado, Connecticut, Florida, Illinois, Indiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New York, Ohio and Pennsylvania, and electricity clients in over nine states, including Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York, Ohio, Pennsylvania and Texas.

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