Market cap of Switchback Energy Acquisition Corporation [SBE] reaches 821.73M – now what?

Switchback Energy Acquisition Corporation [NYSE: SBE] stock went on an upward path that rose over 5.91% on Friday, amounting to a one-week price increase of more than 58.07%. The company report on November 16, 2020 that MERGER ALERT – TNAV, SBE, and LSAC: Levi & Korsinsky, LLP Reminds Investors of Investigations Concerning the Mergers of these Companies.

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The following statement is being issued by Levi & Korsinsky, LLP:

Levi & Korsinsky, LLP announces that investigations have commenced on behalf of shareholders of the following publicly-traded companies.

The market cap for the stock reached $821.73 million, with 31.41 million shares outstanding and 24.22 million shares in the current float. Compared to the average trading volume of 2.67M shares, SBE stock reached a trading volume of 13130573 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Switchback Energy Acquisition Corporation [SBE]:

The Average True Range (ATR) for Switchback Energy Acquisition Corporation is set at 1.91 The Price to Book ratio for the last quarter was 205.98.

SBE Stock Performance Analysis:

Switchback Energy Acquisition Corporation [SBE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 58.07. With this latest performance, SBE shares gained by 64.12% in over the last four-week period, additionally plugging by 166.94% over the last 6 months.

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 SBE stock in for the last two-week period is set at 85.78, with the RSI for the last a single of trading hit 91.00, and the three-weeks RSI is set at 81.95 for Switchback Energy Acquisition Corporation [SBE]. The present Moving Average for the last 50 days of trading for this stock 15.32, while it was recorded at 21.64 for the last single week of trading, and 11.31 for the last 200 days.

Insight into Switchback Energy Acquisition Corporation Fundamentals:

Reflecting on the efficiency of the workforce at the company, Switchback Energy Acquisition Corporation [SBE] managed to generate an average of $259,857 per employee.

Switchback Energy Acquisition Corporation [SBE] Insider Position Details

There are presently around $305 million, or 51.20% of SBE stock, in the hands of institutional investors. The top three institutional holders of SBE stocks are: ADAGE CAPITAL PARTNERS GP, L.L.C. with ownership of 2,140,948, which is approximately -10.794% of the company’s market cap and around 1.02% of the total institutional ownership; GOVERNORS LANE LP, holding 961,494 shares of the stock with an approximate value of $25.15 million in SBE stocks shares; and HBK INVESTMENTS L P, currently with $22.26 million in SBE stock with ownership of nearly -5.436% of the company’s market capitalization.

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40 institutional holders increased their position in Switchback Energy Acquisition Corporation [NYSE:SBE] by around 5,775,394 shares. Additionally, 37 investors decreased positions by around 15,173,816 shares, while 0 investors held positions by with 9,285,534 shares. The mentioned changes placed institutional holdings at 11,663,676 shares, according to the latest SEC report filing. SBE stock had 34 new institutional investments in for a total of 5,045,729 shares, while 21 institutional investors sold positions of 9,369,615 shares during the same period.

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