Short Interest in Spok Holdings, Inc. (NASDAQ:SPOK) Rises By 30.4%
by Kim Johansen · The Markets DailySpok Holdings, Inc. (NASDAQ:SPOK – Get Free Report) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 428,096 shares, a growth of 30.4% from the January 15th total of 328,368 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average daily volume of 166,939 shares, the short-interest ratio is presently 2.6 days. Based on an average daily volume of 166,939 shares, the short-interest ratio is presently 2.6 days. Approximately 2.2% of the shares of the stock are sold short.
Hedge Funds Weigh In On Spok
Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its stake in Spok by 305.4% during the third quarter. Parallel Advisors LLC now owns 1,796 shares of the Wireless communications provider’s stock worth $31,000 after purchasing an additional 1,353 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in Spok by 69.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,465 shares of the Wireless communications provider’s stock worth $33,000 after buying an additional 1,013 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Spok by 41.7% during the second quarter. Ameritas Investment Partners Inc. now owns 2,080 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 612 shares in the last quarter. McIlrath & Eck LLC increased its holdings in shares of Spok by 49.3% during the third quarter. McIlrath & Eck LLC now owns 2,166 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 715 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Spok by 182.8% in the 4th quarter. Royal Bank of Canada now owns 3,100 shares of the Wireless communications provider’s stock worth $40,000 after acquiring an additional 2,004 shares in the last quarter. 50.81% of the stock is owned by institutional investors.
Analysts Set New Price Targets
SPOK has been the subject of several research reports. Wall Street Zen cut Spok from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Spok in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $20.00.
View Our Latest Research Report on SPOK
Spok Price Performance
Shares of Spok stock traded up $0.01 during midday trading on Tuesday, hitting $13.73. The company had a trading volume of 130,300 shares, compared to its average volume of 148,975. The stock has a market cap of $282.84 million, a PE ratio of 17.16 and a beta of 0.41. Spok has a 1-year low of $12.26 and a 1-year high of $19.31. The business’s 50 day simple moving average is $13.28 and its two-hundred day simple moving average is $15.04.
Spok Company Profile
Spok, Inc is a publicly traded healthcare communications and collaboration company headquartered in Bellevue, Washington. The company specializes in providing secure, real-time clinical communication solutions designed to streamline workflows and enhance patient care. Serving hospitals, health systems, and other healthcare organizations across North America and selected international markets, Spok has positioned itself as a leading provider of secure messaging and nurse call integration.
Spok’s flagship offering, the Spok Care Connect platform, delivers a suite of integrated products, including secure text and voice messaging, alarm and event management, call center solutions, and digital signage.