Stable Road Acquisition Corp. [NASDAQ: SRAC] price plunged by -13.38 percent to reach at -$1.61. The company report on May 14, 2021 that Momentus Receives Draft National Security Agreement.
Milestone signals progress toward merger with Stable Road and operational spaceflights.
Momentus Inc. (“Momentus” or the “Company”), a U.S. commercial space company that intends to offer transportation and other in-space infrastructure services, announced that it received a draft National Security Agreement (NSA) from the Committee on Foreign Investment in the United States (CFIUS). The draft NSA specifies CFIUS’s proposed requirements to resolve its national security concerns about the foreign ownership and control of Momentus. Receiving the draft NSA is an important milestone toward overcoming a key issue that has delayed completion of Momentus’ proposed merger with Stable Road Acquisition Corp. (Nasdaq: SRAC, SRACU, SRACW) (“Stable Road”).
A sum of 1336703 shares traded at recent session while its average daily volume was at 935.56K shares. Stable Road Acquisition Corp. shares reached a high of $12.3717 and dropped to a low of $10.36 until finishing in the latest session at $10.42.
Guru’s Opinion on Stable Road Acquisition Corp. [SRAC]:
The Average True Range (ATR) for Stable Road Acquisition Corp. is set at 0.89 The Price to Book ratio for the last quarter was 1.40, with the Price to Cash per share for the same quarter was set at 0.01.
SRAC Stock Performance Analysis:
Stable Road Acquisition Corp. [SRAC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.67. With this latest performance, SRAC shares dropped by -15.08% in over the last four-week period, additionally sinking by -4.32% over the last 6 months – not to mention a rise of 5.47% 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 SRAC stock in for the last two-week period is set at 39.72, with the RSI for the last a single of trading hit 37.75, and the three-weeks RSI is set at 40.65 for Stable Road Acquisition Corp. [SRAC]. The present Moving Average for the last 50 days of trading for this stock 12.38, while it was recorded at 11.48 for the last single week of trading, and 13.92 for the last 200 days.
Insight into Stable Road Acquisition Corp. Fundamentals:
Return on Total Capital for SRAC is now -2.25, given the latest momentum, and Return on Invested Capital for the company is -1.67. Return on Equity for this stock declined to -1.67, with Return on Assets sitting at -1.59.
Reflecting on the efficiency of the workforce at the company, Stable Road Acquisition Corp. [SRAC] managed to generate an average of -$921,817 per employee.Stable Road Acquisition Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.
Stable Road Acquisition Corp. [SRAC] Insider Position Details
There are presently around $32 million, or 21.10% of SRAC stock, in the hands of institutional investors. The top three institutional holders of SRAC stocks are: SCOGGIN MANAGEMENT LP with ownership of 550,000, which is approximately -8.333% of the company’s market cap and around 2.77% of the total institutional ownership; SUSQUEHANNA INTERNATIONAL GROUP, LLP, holding 512,361 shares of the stock with an approximate value of $5.34 million in SRAC stocks shares; and WELLS FARGO & COMPANY/MN, currently with $4.44 million in SRAC stock with ownership of nearly 70.641% of the company’s market capitalization.
36 institutional holders increased their position in Stable Road Acquisition Corp. [NASDAQ:SRAC] by around 978,374 shares. Additionally, 31 investors decreased positions by around 3,549,244 shares, while 7 investors held positions by with 1,486,187 shares. The mentioned changes placed institutional holdings at 3,041,431 shares, according to the latest SEC report filing. SRAC stock had 23 new institutional investments in for a total of 556,539 shares, while 21 institutional investors sold positions of 2,965,549 shares during the same period.