Market cap of Northern Genesis Acquisition Corp. [NGA] reaches 1.13B – now what?

Northern Genesis Acquisition Corp. [NYSE: NGA] loss -1.05% or -0.3 points to close at $28.21 with a heavy trading volume of 5789172 shares. The company report on January 19, 2021 that Autobus Séguin Turns to Electrification with Order of 60 Lion Electric Buses.

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Order for 60 LionC buses is the largest order for all-electric school buses yet from a North American operator.

Northern Genesis Acquisition Corp. (NYSE: NGA) announces that its proposed business combination partner, Lion Electric (Lion), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, and Autobus Groupe Séguin (Autobus Séguin), a transportation operator headquartered in Laval, Quebec, announced the signing of an order for the acquisition of 60 zero-emission LionC electric school buses over a five-year period. Autobus Séguin will integrate the all-electric buses into the company’s current fleet of vehicles, one of the largest in Quebec. This milestone order is the single largest to date in the electric school bus industry in North America. The first 10 buses will be delivered throughout the 2021 calendar year, and will be used from the start of the 2021-2022 school year, through the seven service centers operated by Autobus Séguin. Subject to continued satisfaction of certain conditions, the remaining 50 buses will be delivered through 2026.

If we look at the average trading volume of 3.05M shares, NGA reached to a volume of 5789172 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 Northern Genesis Acquisition Corp. [NGA]:

The Average True Range (ATR) for Northern Genesis Acquisition Corp. is set at 3.10

Trading performance analysis for NGA stock

Northern Genesis Acquisition Corp. [NGA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.95.

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 NGA stock in for the last two-week period is set at 66.03, with the RSI for the last a single of trading hit 61.41, and the three-weeks RSI is set at 68.29 for Northern Genesis Acquisition Corp. [NGA]. The present Moving Average for the last 50 days of trading for this stock 17.10, while it was recorded at 30.86 for the last single week of trading.

Northern Genesis Acquisition Corp. [NGA]: A deeper dive into fundamental analysis

An analysis of insider ownership at Northern Genesis Acquisition Corp. [NGA]

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1 institutional holders increased their position in Northern Genesis Acquisition Corp. [NYSE:NGA] by around 500 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 500 shares, according to the latest SEC report filing. NGA stock had 1 new institutional investments in for a total of 500 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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