Market cap of Northern Genesis Acquisition Corp. [NGA] reaches 635.67M – now what?

Northern Genesis Acquisition Corp. [NYSE: NGA] jumped around 2.45 points on Wednesday, while shares priced at $15.63 at the close of the session, up 18.59%. The company report on April 15, 2021 that IKEA Canada Partners With Second Closet and Lion Electric for Last Mile Delivery in Greater Montreal, Toronto, and Vancouver Markets.

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IKEA Canada takes bold step towards 100% zero-emission delivery by 2025.

Northern Genesis Acquisition Corp. (NYSE: NGA) announces that its proposed business combination partner, The Lion Electric Company (Lion), a leading manufacturer of all-electric medium and heavy-duty urban vehicles, announced that the company has received a purchase order from IKEA Canada’s partner, technology-enabled logistics and last mile delivery provider Second Closet, for 15 Lion6 heavy-duty zero-emission trucks. Second Closet will begin integrating zero-emission trucks into its fleet for IKEA home deliveries in several markets across Canada.

Northern Genesis Acquisition Corp. stock is now -12.09% down from its year-to-date (YTD) trading value. NGA Stock saw the intraday high of $15.8575 and lowest of $13.0504 per share. The company’s 52-week high price is 35.25, which means current price is +22.59% above from all time high which was touched on 01/15/21.

Compared to the average trading volume of 1.86M shares, NGA reached a trading volume of 2474479 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Northern Genesis Acquisition Corp. [NGA]?

The Average True Range (ATR) for Northern Genesis Acquisition Corp. is set at 1.43 The Price to Book ratio for the last quarter was 2.02, with the Price to Cash per share for the same quarter was set at 0.01.

How has NGA stock performed recently?

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 -3.40. With this latest performance, NGA shares dropped by -19.64% in over the last four-week period, additionally plugging by 61.47% over the last 6 months.

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 44.54, with the RSI for the last a single of trading hit 46.95, and the three-weeks RSI is set at 44.08 for Northern Genesis Acquisition Corp. [NGA]. The present Moving Average for the last 50 days of trading for this stock 18.53, while it was recorded at 14.69 for the last single week of trading.

Northern Genesis Acquisition Corp. [NGA]: Deeper insight into the fundamentals

Northern Genesis Acquisition Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

Insider trade positions for Northern Genesis Acquisition Corp. [NGA]

There are presently around $181 million, or 35.30% of NGA stock, in the hands of institutional investors. The top three institutional holders of NGA stocks are: MAGNETAR FINANCIAL LLC with ownership of 2,563,231, which is approximately New of the company’s market cap and around 20.00% of the total institutional ownership; ALBERTA INVESTMENT MANAGEMENT CORP, holding 1,437,000 shares of the stock with an approximate value of $18.94 million in NGA stocks shares; and BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., currently with $11.75 million in NGA stock with ownership of nearly New of the company’s market capitalization.

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51 institutional holders increased their position in Northern Genesis Acquisition Corp. [NYSE:NGA] by around 13,725,014 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 13,725,014 shares, according to the latest SEC report filing. NGA stock had 51 new institutional investments in for a total of 13,725,014 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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