Trident Acquisitions Corp. [TDAC] moved up 13.94: Why It’s Important

Trident Acquisitions Corp. [NASDAQ: TDAC] gained 13.94% or 1.66 points to close at $13.57 with a heavy trading volume of 1045533 shares. The company report on March 22, 2021 that Enters into Binding Agreement to Acquire Mexican Lottery Companies JuegaLotto and Aganar.

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Sponsored, a leading platform that allows users to play the lottery online, has entered into a binding agreement to acquire Mexican lottery companies JuegaLotto and Aganar to expand its operations to Mexico and throughout Latin America. JuegaLotto is federally licensed to sell international lottery games in Mexico through an authorized federal gaming portal and is licensed for games of chance in other countries throughout Latin America. Aganar is licensed to sell Mexican National Lottery draw games, instant win tickets, and other games of chance online with access to a federally approved online casino and sportsbook gaming license. The closing of the acquisitions is subject to standard closing conditions.

It opened the trading session at $12.45, the shares rose to $13.94 and dropped to $12.30, the range by which the price of stock traded the whole day. The daily chart for TDAC points out that the company has recorded 25.07% gains over the past six months. However, it is still -31.49% lower than its most recent low trading price.

If we look at the average trading volume of 524.73K shares, TDAC reached to a volume of 1045533 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 Trident Acquisitions Corp. [TDAC]:

The Average True Range (ATR) for Trident Acquisitions Corp. is set at 1.21 The Price to Book ratio for the last quarter was 19.67, with the Price to Cash per share for the same quarter was set at 0.02.

Trading performance analysis for TDAC stock

Trident Acquisitions Corp. [TDAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.69. With this latest performance, TDAC shares dropped by -13.18% in over the last four-week period, additionally plugging by 25.07% over the last 6 months – not to mention a rise of 29.98% 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 54.40, with the RSI for the last a single of trading hit 57.88, and the three-weeks RSI is set at 53.16 for Trident Acquisitions Corp. [TDAC]. The present Moving Average for the last 50 days of trading for this stock 12.99, while it was recorded at 12.58 for the last single week of trading, and 11.52 for the last 200 days.

Trident Acquisitions Corp. [TDAC]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Trident Acquisitions Corp. [TDAC]

There are presently around $9 million, or 6.00% 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 $0.83 million in TDAC stocks shares; and J. GOLDMAN & CO LP, currently with $0.83 million in TDAC stock with ownership of nearly New of the company’s market capitalization.

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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.

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