StockNews.com Upgrades Spok (NASDAQ:SPOK) to "Strong-Buy"

Spok (NASDAQ:SPOK - Get Free Report) was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report issued on Wednesday.

Separately, B. Riley upgraded Spok from a "neutral" rating to a "buy" rating and upped their price target for the company from $15.00 to $20.00 in a research report on Thursday, February 27th.

Spok Price Performance

Shares of SPOK traded up $0.15 during midday trading on Wednesday, hitting $16.59. 109,377 shares of the company traded hands, compared to its average volume of 105,974. The stock has a 50-day moving average of $16.28 and a 200-day moving average of $15.83. Spok has a one year low of $13.24 and a one year high of $17.96. The firm has a market cap of $338.75 million, a P/E ratio of 22.73 and a beta of 0.29.

Spok (NASDAQ:SPOK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). Spok had a net margin of 10.66% and a return on equity of 9.20%. The company had revenue of $33.89 million for the quarter, compared to the consensus estimate of $35.50 million. Sell-side analysts forecast that Spok will post 0.76 EPS for the current fiscal year.

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Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC increased its position in shares of Spok by 10.8% in the third quarter. Sanctuary Advisors LLC now owns 25,998 shares of the Wireless communications provider's stock worth $422,000 after purchasing an additional 2,536 shares during the last quarter. Barclays PLC increased its position in shares of Spok by 273.8% in the third quarter. Barclays PLC now owns 24,078 shares of the Wireless communications provider's stock worth $362,000 after purchasing an additional 17,637 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Spok by 67.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 110,997 shares of the Wireless communications provider's stock worth $1,782,000 after purchasing an additional 44,896 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Spok by 2,263.5% in the third quarter. JPMorgan Chase & Co. now owns 198,419 shares of the Wireless communications provider's stock worth $2,988,000 after purchasing an additional 190,024 shares during the last quarter. Finally, FMR LLC increased its position in shares of Spok by 39.9% in the third quarter. FMR LLC now owns 14,479 shares of the Wireless communications provider's stock worth $218,000 after purchasing an additional 4,130 shares during the last quarter. 50.81% of the stock is currently owned by institutional investors.

About Spok

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company's products and services enhance workflows for clinicians and support administrative compliance. It delivers clinical information to care teams when and where it matters to enhance patient outcomes; and provides GenA Pager, a one-way alphanumeric pager.