Triterras Inc. [NASDAQ: TRIT] slipped around -0.59 points on Wednesday, while shares priced at $7.40 at the close of the session, down -7.38%. The company report on March 9, 2021 that Triterras Announces Strategic Partnership with Western Union Business Solutions.
Triterras Inc. (Nasdaq: TRIT, TRITW) (“Triterras” or the “Company”), a leading fintech company for trade and trade finance, announced its partnership with Western Union Business Solutions to provide cross-border payments services between traders and lenders on its Kratos platform.
Under this partnership, Western Union Business Solutions’ will offer Kratos users access to fast and reliable technology for the movement of global funds, and expertise in currency risk management. As a leading provider of global payments technology Western Union Business Solutions is a strong complement to Triterras and its blockchain-enabled Kratos platform.
Compared to the average trading volume of 4.31M shares, TRIT reached a trading volume of 1757438 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Triterras Inc. [TRIT]?
Oppenheimer have made an estimate for Triterras Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on February 01, 2021. The new note on the price target was released on January 22, 2021, representing the official price target for Triterras Inc. stock. Previously, the target price had yet another raise to $23, while Oppenheimer analysts kept a Outperform rating on TRIT stock.
The Average True Range (ATR) for Triterras Inc. is set at 0.65, with the Price to Sales ratio for TRIT stock in the period of the last 12 months amounting to 36.16. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 0.00.
How has TRIT stock performed recently?
Triterras Inc. [TRIT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.78. With this latest performance, TRIT shares dropped by -10.30% in over the last four-week period, additionally sinking by -30.71% over the last 6 months – not to mention a drop of -26.15% 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 46.97, with the RSI for the last a single of trading hit 50.17, and the three-weeks RSI is set at 45.27 for Triterras Inc. [TRIT]. The present Moving Average for the last 50 days of trading for this stock 8.71, while it was recorded at 7.10 for the last single week of trading.
Triterras Inc. [TRIT]: Deeper insight into the 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.
Insider trade positions for Triterras Inc. [TRIT]
There are presently around $155 million, or 30.30% of TRIT stock, in the hands of institutional investors. The top three institutional holders of TRIT stocks are: FMR LLC with ownership of 8,054,924, which is approximately New of the company’s market cap and around 62.07% of the total institutional ownership; ADAGE CAPITAL PARTNERS GP, L.L.C., holding 2,210,050 shares of the stock with an approximate value of $16.35 million in TRIT stocks shares; and RANGER INVESTMENT MANAGEMENT, L.P., currently with $14.28 million in TRIT stock with ownership of nearly New of the company’s market capitalization.
46 institutional holders increased their position in Triterras Inc. [NASDAQ:TRIT] by around 15,271,364 shares. Additionally, 39 investors decreased positions by around 13,902,160 shares, while 2 investors held positions by with 8,165,481 shares. The mentioned changes placed institutional holdings at 21,008,043 shares, according to the latest SEC report filing. TRIT stock had 36 new institutional investments in for a total of 13,227,856 shares, while 34 institutional investors sold positions of 12,277,823 shares during the same period.