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

Spark New Zealand Limited (OTCMKTS:SPKKY) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 2,500 shares, a drop 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.

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

SPKKY traded up $0.11 during 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 company has a market capitalization of $6.38 billion, a PE ratio of 24.14, a PEG ratio of 14.52 and a beta of 0.54. Spark New Zealand has a twelve month low of $14.75 and a twelve month high of $17.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.91 and a current ratio of 0.98. The stock has a 50 day simple moving average of $16.88 and a two-hundred day simple moving average of $16.51.

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

About Spark New Zealand

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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