Thursday, October 22, 2020

Spartan Energy Acquisition Corp. [SPAQ] is 33.46% higher this YTD. Is it still time to buy?

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Spartan Energy Acquisition Corp. [NYSE: SPAQ] gained 4.38% or 0.57 points to close at $13.57 with a heavy trading volume of 5285997 shares. The company report on September 1, 2020 that SPARTAN ENERGY ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of SPAQ and Encourages Investors to Contact the Firm.

Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Spartan Energy Acquisition Corp. (NYSE: SPAQ) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with Fisker Inc.

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It opened the trading session at $13.01, the shares rose to $13.84 and dropped to $12.8838, the range by which the price of stock traded the whole day. The daily chart for SPAQ points out that the company has recorded 32.00% gains over the past six months. However, it is still -39.18% lower than its most recent low trading price.

If we look at the average trading volume of 6.19M shares, SPAQ reached to a volume of 5285997 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 0.81 The Price to Book ratio for the last quarter was 188.47.

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 -2.51. With this latest performance, SPAQ shares gained by 9.44% in over the last four-week period, additionally plugging by 32.00% over the last 6 months – not to mention a rise of 35.85% 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 58.81, with the RSI for the last a single of trading hit 61.30, and the three-weeks RSI is set at 56.40 for Spartan Energy Acquisition Corp. [SPAQ]. The present Moving Average for the last 50 days of trading for this stock 12.71, while it was recorded at 13.21 for the last single week of trading, and 10.80 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]

29 institutional holders increased their position in Spartan Energy Acquisition Corp. [NYSE:SPAQ] by around 8,187,782 shares. Additionally, 17 investors decreased positions by around 7,658,276 shares, while 13 investors held positions by with 26,488,916 shares. The mentioned changes placed institutional holdings at 42,334,974 shares, according to the latest SEC report filing. SPAQ stock had 15 new institutional investments in for a total of 2,836,747 shares, while 5 institutional investors sold positions of 2,185,493 shares during the same period.

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