Trident Acquisitions Corp. [NASDAQ: TDAC] stock went on an upward path that rose over 11.17% on Friday, amounting to a one-week price increase of more than 14.67%. The company report on February 8, 2021 that Lottery.com Enters MOU with MSL to Offer U.S. Lottery Products in Ukraine.
Lottery.com, a leading online platform to play the lottery online or from a mobile device, continues its international expansion and has announced that it has entered into an MOU for cooperation with MSL, a Ukrainian state lottery operator, to offer select Lottery.com products in the Ukraine. This announcement comes on the heels of the Company reaffirming its intent to sign a definitive agreement for a business combination with Trident Acquisitions Corp. (NASDAQ: TDACU, TDAC, TDACW) by mid-February 2021. Select products from the Company will be available both physically and electronically, when approved by Ukrainian legislation, and will be in accordance with current and upcoming compliance requirements of the Ukrainian legislation on lotteries.
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MSL, a member of the European Association of State Lotteries, is the largest state lottery operator in Eastern Europe. This agreement will make MSL the exclusive distributor of select Lottery.com products in the Ukraine. Ukraine has a population of about 45 million people, with an estimated gambling market of approximately one billion euros (€1,000,000,000 EUR).
Over the last 12 months, TDAC stock rose by 51.60%.
The market cap for the stock reached $168.34 million, with 7.29 million shares outstanding and 3.70 million shares in the current float. Compared to the average trading volume of 638.75K shares, TDAC stock reached a trading volume of 1203236 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Trident Acquisitions Corp. [TDAC]:
The Average True Range (ATR) for Trident Acquisitions Corp. is set at 0.83 The Price to Book ratio for the last quarter was 22.65, with the Price to Cash per share for the same quarter was set at 0.02.
TDAC Stock Performance Analysis:
Trident Acquisitions Corp. [TDAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.67. With this latest performance, TDAC shares gained by 29.82% in over the last four-week period, additionally plugging by 45.94% over the last 6 months – not to mention a rise of 51.60% 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 TDAC stock in for the last two-week period is set at 70.37, with the RSI for the last a single of trading hit 74.31, and the three-weeks RSI is set at 67.45 for Trident Acquisitions Corp. [TDAC]. The present Moving Average for the last 50 days of trading for this stock 12.84, while it was recorded at 14.50 for the last single week of trading, and 11.28 for the last 200 days.
Insight into Trident Acquisitions Corp. Fundamentals:
Return on Total Capital for TDAC is now -0.81, given the latest momentum, and Return on Invested Capital for the company is 1.87. Return on Equity for this stock inclined to 1.87, with Return on Assets sitting at 1.79. When it comes to the capital structure of this company, Trident Acquisitions Corp. [TDAC] has a Total Debt to Total Equity ratio set at 0.26. Additionally, TDAC Total Debt to Total Capital is recorded at 0.26, with Total Debt to Total Assets ending up at 0.24.
Reflecting on the efficiency of the workforce at the company, Trident Acquisitions Corp. [TDAC] managed to generate an average of $844,369 per employee.Trident Acquisitions Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.
Trident Acquisitions Corp. [TDAC] Insider Position Details
There are presently around $11 million, or 12.80% of TDAC stock, in the hands of institutional investors. The top three institutional holders of TDAC stocks are: BOOTHBAY FUND MANAGEMENT, LLC with ownership of 369,072, which is approximately New of the company’s market cap and around 35.43% of the total institutional ownership; FIRST WILSHIRE SECURITIES MANAGEMENT INC, holding 70,000 shares of the stock with an approximate value of $1.09 million in TDAC stocks shares; and J. GOLDMAN & CO LP, currently with $1.09 million in TDAC stock with ownership of nearly New of the company’s market capitalization.
17 institutional holders increased their position in Trident Acquisitions Corp. [NASDAQ:TDAC] by around 712,405 shares. Additionally, 14 investors decreased positions by around 5,708,298 shares, while 1 investors held positions by with 5,693,798 shares. The mentioned changes placed institutional holdings at 726,905 shares, according to the latest SEC report filing. TDAC stock had 17 new institutional investments in for a total of 712,405 shares, while 14 institutional investors sold positions of 5,708,298 shares during the same period.