Friday, January 22, 2021

Trine Acquisition Corp. [TRNE] gain 25.25% so far this year. What now?

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Trine Acquisition Corp. [NYSE: TRNE] gained 8.41% or 0.97 points to close at $12.50 with a heavy trading volume of 2877476 shares. The company report on September 4, 2020 that SHAREHOLDER ALERT: WeissLaw LLP Reminds PTI and TRNE Shareholders About Its Ongoing Investigations.

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It opened the trading session at $11.70, the shares rose to $12.54 and dropped to $11.5988, the range by which the price of stock traded the whole day. The daily chart for TRNE points out that the company has recorded 23.89% gains over the past six months. However, it is still -32.98% lower than its most recent low trading price.

If we look at the average trading volume of 797.15K shares, TRNE reached to a volume of 2877476 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 Trine Acquisition Corp. [TRNE]:

The Average True Range (ATR) for Trine Acquisition Corp. is set at 0.42 The Price to Book ratio for the last quarter was 22.73.

Trading performance analysis for TRNE stock

Trine Acquisition Corp. [TRNE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.75. With this latest performance, TRNE shares gained by 22.31% in over the last four-week period, additionally plugging by 23.89% over the last 6 months – not to mention a rise of 26.90% 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 73.66, with the RSI for the last a single of trading hit 75.77, and the three-weeks RSI is set at 72.68 for Trine Acquisition Corp. [TRNE]. The present Moving Average for the last 50 days of trading for this stock 10.63, while it was recorded at 11.69 for the last single week of trading, and 10.15 for the last 200 days.

Trine Acquisition Corp. [TRNE]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Trine Acquisition Corp. [TRNE]

There are presently around $320 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 $27.24 million in TRNE stocks shares; and UBS OCONNOR LLC, currently with $24.43 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.

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