Market Analysts see Forum Merger III Corporation [FIII] gaining to $23. Time to buy?

Forum Merger III Corporation [NASDAQ: FIII] jumped around 0.18 points on Wednesday, while shares priced at $10.18 at the close of the session, up 1.80%. The company report on June 22, 2021 that Electric Last Mile Announces Additions to Leadership Team.

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Electric Last Mile, Inc. (“ELMS” or “the Company”) announced eight new additions to its global leadership team in the areas of engineering, operations, marketing, business development and sales. Georgette Borrego Dulworth joins the team as Vice President of Human Resources, Praveen Cherian as Vice President of Engineering, Chris Slesak as Director of Connected Vehicle/Telematics, Rudy Wang as Director of Vehicle Software, Eric Keipper as Executive Director of Vehicle Integration, Jacqueline Siegel as Director of Battery, Sharon Dudley-Parham as Director of Marketing, and Adam Du as Director of ELMS China Operations. These additions bring decades of leadership experience in the automotive industry and in China’s EV market from companies including Ford, General Motors and Bosch.

“We are thrilled to welcome these leaders to our team at ELMS,” said James Taylor, Co-Founder and CEO of ELMS. “Each new team member brings deep, unique automotive experience as well as the proven ability to build global organizations in the commercial vehicle space. These leaders come at an exciting time as we continue to make significant strides on our business and production plans.”.

Forum Merger III Corporation stock is now -24.82% down from its year-to-date (YTD) trading value. FIII Stock saw the intraday high of $10.88 and lowest of $9.86 per share. The company’s 52-week high price is 15.30, which means current price is +12.49% above from all time high which was touched on 01/26/21.

Compared to the average trading volume of 517.40K shares, FIII reached a trading volume of 1763560 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Forum Merger III Corporation [FIII]?

The Benchmark Company have made an estimate for Forum Merger III Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 19, 2021. While these analysts kept the previous recommendation, Colliers Securities raised their target price to Buy. The new note on the price target was released on March 19, 2021, representing the official price target for Forum Merger III Corporation stock.

The Average True Range (ATR) for Forum Merger III Corporation is set at 0.21 The Price to Book ratio for the last quarter was 1.46, with the Price to Cash per share for the same quarter was set at 0.03.

How has FIII stock performed recently?

Forum Merger III Corporation [FIII] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.11. With this latest performance, FIII shares gained by 2.41% in over the last four-week period, additionally sinking by -15.17% 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 FIII stock in for the last two-week period is set at 71.86, with the RSI for the last a single of trading hit 80.10, and the three-weeks RSI is set at 61.84 for Forum Merger III Corporation [FIII]. The present Moving Average for the last 50 days of trading for this stock 9.95, while it was recorded at 10.03 for the last single week of trading.

Forum Merger III Corporation [FIII]: Deeper insight into the fundamentals

Return on Total Capital for FIII is now -3.45, given the latest momentum, and Return on Invested Capital for the company is -27.98. Return on Equity for this stock declined to -27.98, with Return on Assets sitting at -23.32.

Reflecting on the efficiency of the workforce at the company, Forum Merger III Corporation [FIII] managed to generate an average of -$14,680,612 per employee.Forum Merger III Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.

Insider trade positions for Forum Merger III Corporation [FIII]

There are presently around $100 million, or 37.20% of FIII stock, in the hands of institutional investors. The top three institutional holders of FIII stocks are: BNP PARIBAS ASSET MANAGEMENT HOLDING S.A. with ownership of 2,450,308, which is approximately 47.134% of the company’s market cap and around 4.29% of the total institutional ownership; ALPINE GLOBAL MANAGEMENT, LLC, holding 1,267,569 shares of the stock with an approximate value of $12.9 million in FIII stocks shares; and TENOR CAPITAL MANAGEMENT CO., L.P., currently with $5.6 million in FIII stock with ownership of nearly New of the company’s market capitalization.

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Positions in Forum Merger III Corporation stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 48 institutional holders increased their position in Forum Merger III Corporation [NASDAQ:FIII] by around 5,425,867 shares. Additionally, 40 investors decreased positions by around 6,658,384 shares, while 5 investors held positions by with 2,306,019 shares. The mentioned changes placed institutional holdings at 9,778,232 shares, according to the latest SEC report filing. FIII stock had 41 new institutional investments in for a total of 4,207,951 shares, while 26 institutional investors sold positions of 3,475,898 shares during the same period.

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