East Resources Acquisition Company [ERESU] fell -3.97% so far this year. What now?

East Resources Acquisition Company [NASDAQ: ERESU] stock went on a downward path that fall over -0.39% on Tuesday, amounting to a one-week price increase of more than 0.20%. The company report on May 29, 2021 that East Resources Acquisition Company Receives Expected Notice From NASDAQ Regarding Delayed Quarterly Report.

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East Resources Acquisition Company (NASDAQ:ERES) (the “Company”) announced that, on May 26, 2021, it received a notice (the “Notice”) from the Listing Qualifications Department of The NASDAQ Stock Market LLC (“NASDAQ”) stating that the Company is not in compliance with NASDAQ Listing Rule 5250(c)(1) (the “Rule”) because the Company failed to timely file its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the “Form 10-Q”) with the Securities and Exchange Commission (“SEC”). The Notice has no immediate effect on the listing or trading of the Company’s securities on the NASDAQ.

As previously disclosed in the Form 12b-25 filed on May 18, 2021 by the Company, on April 12, 2021, the Acting Director of the Division of Corporation Finance and Acting Chief Accountant of the SEC together issued a statement regarding the accounting and reporting considerations for warrants issued by special purpose acquisition companies entitled “Staff Statement on Accounting and Reporting Considerations for Warrants Issued by Special Purpose Acquisition Companies” (the “SEC Statement”). As result of the SEC Statement, the Company’s management reevaluated the accounting treatment of (i) the redeemable warrants that were included in the units issued by the Company in its initial public offering and (ii) the redeemable warrants that were issued in a private placement (collectively, the “Warrants”), and concluded that the Warrants should be reclassified as derivative liabilities.

Guru’s Opinion on East Resources Acquisition Company [ERESU]:

The Average True Range (ATR) for East Resources Acquisition Company is set at 0.10

ERESU Stock Performance Analysis:

East Resources Acquisition Company [ERESU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.20. With this latest performance, ERESU shares gained by 0.25% in over the last four-week period, additionally sinking by -1.65% 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 ERESU stock in for the last two-week period is set at 50.52, with the RSI for the last a single of trading hit 52.53, and the three-weeks RSI is set at 49.05 for East Resources Acquisition Company [ERESU]. The present Moving Average for the last 50 days of trading for this stock 10.16, while it was recorded at 10.14 for the last single week of trading, and 10.33 for the last 200 days.

Insight into East Resources Acquisition Company Fundamentals:

East Resources Acquisition Company [ERESU] Insider Position Details

There are presently around $100 million, or 44.30% of ERESU stock, in the hands of institutional investors. The top three institutional holders of ERESU stocks are: SCHF (GPE), LLC with ownership of 5,000,000, which is approximately 0% of the company’s market cap and around 0.01% of the total institutional ownership; CLEARBRIDGE INVESTMENTS, LLC, holding 2,297,966 shares of the stock with an approximate value of $23.32 million in ERESU stocks shares; and MAGNETAR FINANCIAL LLC, currently with $7.05 million in ERESU stock with ownership of nearly -4.143% of the company’s market capitalization.

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8 institutional holders increased their position in East Resources Acquisition Company [NASDAQ:ERESU] by around 86,175 shares. Additionally, 30 investors decreased positions by around 3,020,794 shares, while 7 investors held positions by with 6,792,569 shares. The mentioned changes placed institutional holdings at 9,899,538 shares, according to the latest SEC report filing. ERESU stock had 4 new institutional investments in for a total of 58,654 shares, while 16 institutional investors sold positions of 2,031,388 shares during the same period.

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