Sunday, September 27, 2020

Market cap of Forum Merger II Corporation [FMCI] reaches 379.14M – now what?

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Forum Merger II Corporation [NASDAQ: FMCI] jumped around 1.11 points on Tuesday, while shares priced at $18.36 at the close of the session, up 6.43%. The company report on August 24, 2020 that Tattooed Chef Appoints Charles F. Cargile as Chief Financial Officer.

Ittella International, a plant-based food company with a broad portfolio of innovative products available both in private label and the “Tattooed Chef” brand (“Tattooed Chef” or the “Company”), today announced it has appointed Charles (“Chuck”) F. Cargile as Chief Financial Officer, effective August 24, 2020. The Company’s current Chief Financial Officer, Stephanie Dieckmann, will remain with the Company as Chief Operating Officer. As previously announced, Tattooed Chef and Forum Merger II Corporation (Nasdaq: FMCI) (“Forum”), a special purpose acquisition company, have entered into a definitive agreement (the “Business Combination Agreement”) for a business combination that will introduce Tattooed Chef as a Nasdaq-listed public company. The Company expects the closing of the Business Combination to occur in early October, as soon as practicable after the stockholder meeting held to approve the Business Combination, subject to the satisfaction or waiver of the closing conditions in the Merger Agreement.

Mr. Cargile is a seasoned executive with over 30 years of financial and operational experience, most recently serving as Chief Executive Officer of Sunworks since March 2017. Prior to joining Sunworks, Mr. Cargile served as Senior Vice President, Chief Financial Officer and Treasurer of Newport Corporation from October 2000 until April 2016, when Newport was acquired by MKS Instruments. Mr. Cargile was responsible for all accounting, financial reporting, tax, treasury, investor relations and information technology functions, as well as strategic planning, mergers, acquisitions and divestitures. From November 1998 to October 2000, Mr. Cargile had several roles at York International Corporation including Corporate Controller and Chief Accounting Officer and Vice President, Finance and Corporate Development. Mr. Cargile started his career at Coopers & Lybrand and Borg Warner Industrial Products, which later became Flowserve Corporation. Mr. Cargile has a B.S. in Accounting from Oklahoma State University and earned an MBA from the Marshall School of Business at the University of Southern California (USC). Mr. Cargile currently serves on the Board of Directors of Sunworks and Photon Control, as well as the Corporate Advisory Board for the Marshall School of Business at USC.

Forum Merger II Corporation stock is now 79.82% up from its year-to-date (YTD) trading value. FMCI Stock saw the intraday high of $18.78 and lowest of $17.27 per share. The company’s 52-week high price is 20.00, which means current price is +88.11% above from all time high which was touched on 06/17/20.

Compared to the average trading volume of 2.35M shares, FMCI reached a trading volume of 1496810 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Forum Merger II Corporation [FMCI]?

The Average True Range (ATR) for Forum Merger II Corporation is set at 1.13 The Price to Book ratio for the last quarter was 26.04.

How has FMCI stock performed recently?

Forum Merger II Corporation [FMCI] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.49. With this latest performance, FMCI shares gained by 29.66% in over the last four-week period, additionally plugging by 77.39% over the last 6 months – not to mention a rise of 84.52% 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 FMCI stock in for the last two-week period is set at 65.23, with the RSI for the last a single of trading hit 71.10, and the three-weeks RSI is set at 63.00 for Forum Merger II Corporation [FMCI]. The present Moving Average for the last 50 days of trading for this stock 15.70, while it was recorded at 17.55 for the last single week of trading, and 12.02 for the last 200 days.

Forum Merger II Corporation [FMCI]: Deeper insight into the fundamentals

Return on Total Capital for FMCI is now -0.56, given the latest momentum, and Return on Invested Capital for the company is 1.19. Return on Equity for this stock inclined to 1.19, with Return on Assets sitting at 1.15.

Reflecting on the efficiency of the workforce at the company, Forum Merger II Corporation [FMCI] managed to generate an average of $1,175,084 per employee.

Insider trade positions for Forum Merger II Corporation [FMCI]

There are presently around $109 million, or 97.77% of FMCI stock, in the hands of institutional investors. The top three institutional holders of FMCI stocks are: FALCON EDGE CAPITAL, LP with ownership of 1,977,916, which is approximately New of the company’s market cap and around 26.89% of the total institutional ownership; OXFORD ASSET MANAGEMENT LLP, holding 1,369,675 shares of the stock with an approximate value of $25.15 million in FMCI stocks shares; and KEPOS CAPITAL LP, currently with $6.87 million in FMCI stock with ownership of nearly -69.544% of the company’s market capitalization.

48 institutional holders increased their position in Forum Merger II Corporation [NASDAQ:FMCI] by around 3,750,554 shares. Additionally, 43 investors decreased positions by around 17,399,378 shares, while 1 investors held positions by with 15,214,688 shares. The mentioned changes placed institutional holdings at 5,935,244 shares, according to the latest SEC report filing. FMCI stock had 46 new institutional investments in for a total of 3,723,125 shares, while 36 institutional investors sold positions of 15,416,751 shares during the same period.

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