Cerberus Telecom Acquisition Corp. [CTAC] moved up 0.20: Why It’s Important

Cerberus Telecom Acquisition Corp. [NYSE: CTAC] jumped around 0.02 points on Friday, while shares priced at $9.99 at the close of the session, up 0.20%. The company report on June 28, 2021 that KORE Enabled IoT Technology Powers Drones to Deliver Critical Medical Assets.

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Swoop Aero leverages KORE satellite connectivity and eSIM technology to deliver vaccines and medical supplies in remote and rural parts of the world.

KORE, a global leader in Internet of Things (“IoT”) solutions and worldwide Connectivity-as-a-Service (“CaaS”), will showcase the innovative enablement of IoT connectivity that is making it possible for Australian drone-powered logistics company Swoop Aero to transport COVID-19 vaccines into isolated areas of the world. KORE representatives will be attending Mobile World Congress and showcasing the solution during a private presentation with the King of Spain and his senior dignitaries. Additionally, a public presentation on the innovation will take place at Mobile World Congress Barcelona on Tuesday, June 29, at 9 a.m. CET.

Cerberus Telecom Acquisition Corp. stock is now -2.15% down from its year-to-date (YTD) trading value. CTAC Stock saw the intraday high of $10.00 and lowest of $9.93 per share. The company’s 52-week high price is 11.24, which means current price is +2.78% above from all time high which was touched on 02/11/21.

Compared to the average trading volume of 155.71K shares, CTAC reached a trading volume of 985194 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Cerberus Telecom Acquisition Corp. [CTAC]?

The Average True Range (ATR) for Cerberus Telecom Acquisition Corp. is set at 0.03 The Price to Book ratio for the last quarter was 1.38, with the Price to Cash per share for the same quarter was set at 0.05.

How has CTAC stock performed recently?

Cerberus Telecom Acquisition Corp. [CTAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.40. With this latest performance, CTAC shares gained by 0.60% in over the last four-week period, additionally sinking by -2.15% 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 CTAC stock in for the last two-week period is set at 64.78, with the RSI for the last a single of trading hit 71.89, and the three-weeks RSI is set at 58.07 for Cerberus Telecom Acquisition Corp. [CTAC]. The present Moving Average for the last 50 days of trading for this stock 9.92, while it was recorded at 9.95 for the last single week of trading.

Cerberus Telecom Acquisition Corp. [CTAC]: Deeper insight into the fundamentals

Cerberus Telecom 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 Cerberus Telecom Acquisition Corp. [CTAC]

There are presently around $215 million, or 82.00% of CTAC stock, in the hands of institutional investors. The top three institutional holders of CTAC stocks are: WEISS ASSET MANAGEMENT LP with ownership of 2,177,516, which is approximately 97.956% of the company’s market cap and around 3.06% of the total institutional ownership; LINDEN ADVISORS LP, holding 1,455,433 shares of the stock with an approximate value of $14.54 million in CTAC stocks shares; and FORTRESS INVESTMENT GROUP LLC, currently with $12.24 million in CTAC stock with ownership of nearly 0% of the company’s market capitalization.

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48 institutional holders increased their position in Cerberus Telecom Acquisition Corp. [NYSE:CTAC] by around 12,810,147 shares. Additionally, 15 investors decreased positions by around 2,464,629 shares, while 5 investors held positions by with 6,241,898 shares. The mentioned changes placed institutional holdings at 21,516,674 shares, according to the latest SEC report filing. CTAC stock had 40 new institutional investments in for a total of 9,897,908 shares, while 6 institutional investors sold positions of 1,165,858 shares during the same period.

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