Short Interest in Spark New Zealand Limited (OTCMKTS:SPKKY) Decreases By 89.5%

Spark New Zealand Limited (OTCMKTS:SPKKY) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 2,500 shares, a decrease of 89.5% from the August 15th total of 23,900 shares. Based on an average daily volume of 27,700 shares, the short-interest ratio is currently 0.1 days.

Spark New Zealand stock traded up $0.11 during mid-day trading on Wednesday, hitting $17.38. The stock had a trading volume of 21,593 shares, compared to its average volume of 19,329. The firm has a market capitalization of $6.38 billion, a P/E ratio of 24.14, a P/E/G ratio of 14.52 and a beta of 0.54. The company has a current ratio of 0.98, a quick ratio of 0.91 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average is $16.88 and its 200 day moving average is $16.51. Spark New Zealand has a one year low of $14.75 and a one year high of $17.71.

The company also recently announced a dividend, which will be paid on Tuesday, October 12th. Investors of record on Thursday, September 16th will be issued a $0.8694 dividend. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a yield of 5.03%. This is an increase from Spark New Zealand’s previous dividend of $0.40. Spark New Zealand’s dividend payout ratio is currently 97.22%.

Separately, Zacks Investment Research downgraded shares of Spark New Zealand from a “hold” rating to a “sell” rating in a report on Friday, August 20th.

Spark New Zealand Company Profile

Spark New Zealand Ltd. engages in the provision of telecommunications and information and communications technology (ICT) services. The company was founded on February 24, 1987 and is headquartered in Auckland, New Zealand.

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