Trine Acquisition Corp. [NYSE: TRNE] jumped around 1.09 points on Wednesday, while shares priced at $11.23 at the close of the session, up 10.75%. The company report on August 26, 2020 that SHAREHOLDER NOTICE: Brodsky & Smith, LLC Announces an Investigation of Trine Acquisition Corp. (NYSE-TRNE).
BALA CYNWYD, PA / ACCESSWIRE / August 26, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Trine Acquisition Corp. (“Trine” or the “Company”) (NYSE:TRNE) for possible breaches of fiduciary duty and other violations of federal and state law in connection with a merger agreement pursuant to which Trine, a special purpose acquisition company, will combine with Desktop Metal, Inc., (“Desktop Metal”), a leader in mass production and turnkey additive manufacturing solutions and result in Desktop Metal becoming a publicly-listed company. Under the terms of the agreement, Trine shareholders will retain ownership of only 12% of the combined company.
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The investigation concerns whether the Trine Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Trine Acquisition Corp. stock is now 12.53% up from its year-to-date (YTD) trading value. TRNE Stock saw the intraday high of $11.69 and lowest of $10.89 per share. The company’s 52-week high price is 10.73, which means current price is +19.47% above from all time high which was touched on 08/26/20.
Compared to the average trading volume of 136.38K shares, TRNE reached a trading volume of 19760892 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Trine Acquisition Corp. [TRNE]?
The Average True Range (ATR) for Trine Acquisition Corp. is set at 0.18 The Price to Book ratio for the last quarter was 20.42.
How has TRNE stock performed recently?
Trine Acquisition Corp. [TRNE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.97. With this latest performance, TRNE shares gained by 7.36% in over the last four-week period, additionally plugging by 10.64% over the last 6 months – not to mention a rise of 15.30% 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 TRNE stock in for the last two-week period is set at 82.73, with the RSI for the last a single of trading hit 89.54, and the three-weeks RSI is set at 78.43 for Trine Acquisition Corp. [TRNE]. The present Moving Average for the last 50 days of trading for this stock 10.33, while it was recorded at 10.34 for the last single week of trading, and 10.05 for the last 200 days.
Trine Acquisition Corp. [TRNE]: Deeper insight into the fundamentals
Return on Total Capital for TRNE is now -1.15, given the latest momentum, and Return on Invested Capital for the company is 1.85. Return on Equity for this stock inclined to 1.85, with Return on Assets sitting at 1.79.
Reflecting on the efficiency of the workforce at the company, Trine Acquisition Corp. [TRNE] managed to generate an average of $682,258 per employee.
Insider trade positions for Trine Acquisition Corp. [TRNE]
There are presently around $287 million, or 79.62% of TRNE stock, in the hands of institutional investors. The top three institutional holders of TRNE stocks are: OMNI PARTNERS LLP with ownership of 2,388,226, which is approximately -9.206% of the company’s market cap and around 24.67% of the total institutional ownership; GLAZER CAPITAL, LLC, holding 2,179,107 shares of the stock with an approximate value of $24.47 million in TRNE stocks shares; and UBS OCONNOR LLC, currently with $21.95 million in TRNE stock with ownership of nearly -5% of the company’s market capitalization.
25 institutional holders increased their position in Trine Acquisition Corp. [NYSE:TRNE] by around 4,108,236 shares. Additionally, 16 investors decreased positions by around 2,749,620 shares, while 16 investors held positions by with 18,706,038 shares. The mentioned changes placed institutional holdings at 25,563,894 shares, according to the latest SEC report filing. TRNE stock had 11 new institutional investments in for a total of 1,815,057 shares, while 4 institutional investors sold positions of 323,266 shares during the same period.