Triterras Inc. [TRIT] Stock trading around $13.20 per share: What’s Next?

Triterras Inc. [NASDAQ: TRIT] stock went on an upward path that rose over 5.18% on Wednesday, amounting to a one-week price increase of more than 0.15%. The company report on December 11, 2020 that Triterras Wins Singapore Founder Category of MAS Singapore FinTech Awards.

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Award recognizes the Company’s blockchain-enabled Kratos platform.

Triterras Inc. (“Triterras” or the “Company”) (NASDAQ: TRIT, TRITW), a leading fintech company for commodity trading and trade finance, announced that its blockchain-enabled Kratos platform has won the Singapore Founder category of the FinTech Awards issued by the Monetary Authority of Singapore (MAS).

Over the last 12 months, TRIT stock rose by 34.01%. The one-year Triterras Inc. stock forecast points to a potential upside of 17.5. The average equity rating for TRIT stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.12 billion, with 32.31 million shares outstanding. Compared to the average trading volume of 789.14K shares, TRIT stock reached a trading volume of 3676502 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Triterras Inc. [TRIT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TRIT shares is $16.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TRIT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Triterras Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 16, 2020.

The Average True Range (ATR) for Triterras Inc. is set at 0.78, with the Price to Sales ratio for TRIT stock in the period of the last 12 months amounting to 66.47. The Price to Book ratio for the last quarter was 1.72, with the Price to Cash per share for the same quarter was set at 0.00.

TRIT Stock Performance Analysis:

Triterras Inc. [TRIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.15. With this latest performance, TRIT shares gained by 10.55% in over the last four-week period, additionally plugging by 31.34% over the last 6 months – not to mention a rise of 34.01% 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 TRIT stock in for the last two-week period is set at 59.64, with the RSI for the last a single of trading hit 57.84, and the three-weeks RSI is set at 58.58 for Triterras Inc. [TRIT], while it was recorded at 12.82 for the last single week of trading.

Insight into Triterras Inc. Fundamentals:

Triterras Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.00 and a Current Ratio set at 0.00.

Triterras Inc. [TRIT] Insider Position Details

There are presently around $260 million, or 25.20% of TRIT stock, in the hands of institutional investors. The top three institutional holders of TRIT stocks are: ADAGE CAPITAL PARTNERS GP, L.L.C. with ownership of 1,749,972, which is approximately New of the company’s market cap and around 62.07% of the total institutional ownership; SAND GROVE CAPITAL MANAGEMENT LLP, holding 1,393,237 shares of the stock with an approximate value of $18.39 million in TRIT stocks shares; and MAVEN SECURITIES LTD, currently with $17.86 million in TRIT stock with ownership of nearly 851.031% of the company’s market capitalization.

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35 institutional holders increased their position in Triterras Inc. [NASDAQ:TRIT] by around 10,511,708 shares. Additionally, 38 investors decreased positions by around 10,212,249 shares, while 3 investors held positions by with 1,063,118 shares. The mentioned changes placed institutional holdings at 19,660,839 shares, according to the latest SEC report filing. TRIT stock had 25 new institutional investments in for a total of 6,829,396 shares, while 24 institutional investors sold positions of 4,476,659 shares during the same period.

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