Market cap of Spartan Energy Acquisition Corp. [SPAQ] reaches 698.28M – now what?

Spartan Energy Acquisition Corp. [NYSE: SPAQ] surged by $0.45 during the normal trading session on Monday and reaching a high of $13.22 during the day while it closed the day at $12.65. The company report on August 6, 2020 that Spartan Energy Acquisition Corp. Announces Stockholder Approval of 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 announced that its stockholders approved an extension of the date by which it has to complete a business combination from August 14, 2020 to February 14, 2021. Spartan requested the extension in order to complete the previously announced proposed business combination (the “Fisker Transaction”) with Fisker Inc. (“Fisker”).

The Fisker Transaction is expected to be completed in the fourth quarter of 2020, subject to, among other things, the approval by Spartan’s stockholders, satisfaction of the conditions stated in the definitive agreement and other customary closing conditions.

Spartan Energy Acquisition Corp. stock has also gained 1.04% of its value over the past 7 days. However, SPAQ stock has inclined by 23.66% in the 3 months of the year. Over the past six months meanwhile, it has gained 23.77% and gained 24.41% year-on date.

The market cap for SPAQ stock reached $698.28 million, with 55.20 million shares outstanding and 45.01 million shares in the current float. Compared to the average trading volume of 5.50M shares, SPAQ reached a trading volume of 6351076 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Spartan Energy Acquisition Corp. [SPAQ]:

The Average True Range (ATR) for Spartan Energy Acquisition Corp. is set at 1.26 The Price to Book ratio for the last quarter was 175.69.

SPAQ stock trade performance evaluation

Spartan Energy Acquisition Corp. [SPAQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.04. With this latest performance, SPAQ shares dropped by -18.12% in over the last four-week period, additionally plugging by 23.77% over the last 6 months – not to mention a rise of 27.78% 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 50.90, with the RSI for the last a single of trading hit 51.25, and the three-weeks RSI is set at 51.65 for Spartan Energy Acquisition Corp. [SPAQ]. The present Moving Average for the last 50 days of trading for this stock 12.13, while it was recorded at 12.30 for the last single week of trading, and 10.65 for the last 200 days.

Spartan Energy Acquisition Corp. [SPAQ]: An insightful look at the core fundamentals

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.

Spartan Energy Acquisition Corp. [SPAQ]: Insider Ownership positions

28 institutional holders increased their position in Spartan Energy Acquisition Corp. [NYSE:SPAQ] by around 7,537,782 shares. Additionally, 17 investors decreased positions by around 7,658,276 shares, while 14 investors held positions by with 27,138,916 shares. The mentioned changes placed institutional holdings at 42,334,974 shares, according to the latest SEC report filing. SPAQ stock had 14 new institutional investments in for a total of 2,186,747 shares, while 5 institutional investors sold positions of 2,185,493 shares during the same period.

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