Spartan Energy Acquisition Corp. [SPAQ] is 21.16% higher this YTD. Is it still time to buy?

Spartan Energy Acquisition Corp. [NYSE: SPAQ] loss -10.07% on the last trading session, reaching $12.32 price per share at the time. The company report on July 30, 2020 that Spartan Energy Acquisition Corp. Provides Information Regarding Extension of Deadline to Complete Business Combination.

Spartan Energy Acquisition Corp. (“Spartan”) (NYSE: SPAQ), a special purpose acquisition company (“SPAC”) sponsored by an affiliate of Apollo Global Management, Inc. (NYSE:APO), today provided information regarding a proposal to amend Spartan’s amended and restated certificate of incorporation (the “charter”) to extend the date by which Spartan has to complete a business combination (the “Extension”) for an additional six months, from August 14, 2020 to February 14, 2021.

Like many SPACs, Spartan’s charter currently provides that Spartan has 24 months from the closing of Spartan’s initial public offering (in Spartan’s case, until August 14, 2020) to complete an initial business combination. As previously announced, Spartan has entered into a definitive agreement for a business combination (the “Fisker Transaction”) that would result in Fisker Inc. (“Fisker”) becoming a publicly listed company. However, the Fisker Transaction is not expected to be completed until after August 14, 2020. Accordingly, Spartan is seeking the Extension in order to allow Spartan to complete the Fisker Transaction.

Spartan Energy Acquisition Corp. represents 55.20 million in outstanding shares, while the company has a total market value of $680.06 million with the latest information. SPAQ stock price has been found in the range of $11.61 to $12.55.

If compared to the average trading volume of 4.44M shares, SPAQ reached a trading volume of 20370370 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Spartan Energy Acquisition Corp. [SPAQ]:

The Average True Range (ATR) for Spartan Energy Acquisition Corp. is set at 1.27 The Price to Book ratio for the last quarter was 36.02.

Trading performance analysis for SPAQ stock

Spartan Energy Acquisition Corp. [SPAQ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.78. With this latest performance, SPAQ shares gained by 15.03% in over the last four-week period, additionally plugging by 20.67% over the last 6 months – not to mention a rise of 24.57% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPAQ stock in for the last two-week period is set at 46.08, with the RSI for the last a single of trading hit 40.56, and the three-weeks RSI is set at 49.09 for Spartan Energy Acquisition Corp. [SPAQ]. The present Moving Average for the last 50 days of trading for this stock 11.69, while it was recorded at 13.33 for the last single week of trading, and 10.52 for the last 200 days.

Spartan Energy Acquisition Corp. [SPAQ]: A deeper dive into fundamental analysis

Return on Total Capital for SPAQ is now -0.23, given the latest momentum, and Return on Invested Capital for the company is 1.63. Return on Equity for this stock inclined to 1.63, with Return on Assets sitting at 1.57.

Reflecting on the efficiency of the workforce at the company, Spartan Energy Acquisition Corp. [SPAQ] managed to generate an average of $4,404,530 per employee.

An analysis of insider ownership at Spartan Energy Acquisition Corp. [SPAQ]

26 institutional holders increased their position in Spartan Energy Acquisition Corp. [NYSE:SPAQ] by around 14,088,207 shares. Additionally, 23 investors decreased positions by around 9,436,284 shares, while 6 investors held positions by with 19,455,421 shares. The mentioned changes placed institutional holdings at 42,979,912 shares, according to the latest SEC report filing. SPAQ stock had 11 new institutional investments in for a total of 5,139,311 shares, while 10 institutional investors sold positions of 6,317,345 shares during the same period.

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