B. Riley Upgrades Spok Stock Rating

On Thursday, analysts at B. Riley announced an upgrade for the shares of Spok (NASDAQ:SPOK). Previously rated as "neutral", the stock has now been upgraded to a "buy" rating. In addition to the upgraded rating, B. Riley also raised its price target for Spok from $15.00 to $20.00. This change suggests a potential upside of approximately 20.92% based on the company's previous closing price.

Recent Stock Performance

On the same day, Spok’s stock opened at $16.54. With a market capitalization of $335.30 million, the company has a PE ratio of 22.66 and a relatively low beta of 0.33, indicating less volatility compared to the market. Spok has shown stability in its stock price with a 50-day simple moving average sitting at $16.20 and a 200-day moving average at $15.75. Over the past year, the stock reached a low of $13.24 and a high of $18.14.

Quarterly Earnings Results

Spok recently released its quarterly earnings on February 26th, where it reported earnings per share (EPS) of $0.18. This figure fell short of analysts' expectations, which forecasted an EPS of $0.20. Despite this, the company reported a return on equity of 9.20% and net margins reaching 10.66%. Analysts expect Spok to achieve an EPS of 0.76 in the current fiscal year.

Investment Trends

Various hedge funds have been actively adjusting their positions in Spok. For instance, HighTower Advisors LLC boosted its stake by 4.2% in the third quarter and now owns 673,268 shares valued at approximately $10.14 million. Similarly, Geode Capital Management LLC increased its holdings by 1.3% in the fourth quarter, acquiring 514,427 shares valued around $8.26 million. Other firms, including Foundry Partners LLC and State Street Corp, have also increased their stakes in the company. Overall, institutional investors and hedge funds hold about 50.81% of Spok's stock.

About Spok Holdings, Inc.

Spok Holdings, Inc. operates through its subsidiary, Spok, Inc., which provides communication solutions tailored for healthcare in various regions including the United States, Europe, Canada, Australia, Asia, and the Middle East. The company's offerings are designed to optimize workflows for medical professionals and ensure compliance in administrative processes. Notably, Spok supplies a product known as GenA Pager, a one-way alphanumeric paging device, used in healthcare settings to improve communication and patient care.

Stock, Upgrade, Earnings