Magnum Opus Acquisition Limited [OPA] fell -1.21% so far this year. What now?


Magnum Opus Acquisition Limited [NYSE: OPA] slipped around -0.03 points on Wednesday, while shares priced at $9.80 at the close of the session, down -0.31%. The company report on June 1, 2022 that Forbes Announces Termination of SPAC Transaction.

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Forbes Global Media Holdings Inc., the iconic business information brand that convenes and curates the most influential leaders driving change, announced today that its shareholders have terminated the Business Combination Agreement with Magnum Opus Acquisition Limited (NYSE: OPA), a special purpose acquisition company.

Forbes announced record revenue and earnings last year, and has already exceeded the business forecast for 2022 it outlined in its initial investor deck.

Magnum Opus Acquisition Limited stock is now -1.21% down from its year-to-date (YTD) trading value. OPA Stock saw the intraday high of $9.80 and lowest of $9.77 per share. The company’s 52-week high price is 10.17, which means current price is +0.62% above from all time high which was touched on 02/10/22.

Compared to the average trading volume of 62.40K shares, OPA reached a trading volume of 6866822 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Magnum Opus Acquisition Limited [OPA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for OPA shares is $15.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on OPA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Magnum Opus Acquisition Limited is set at 0.02 The Price to Book ratio for the last quarter was 1.41, with the Price to Cash per share for the same quarter was set at 0.00.

How has OPA stock performed recently?

Magnum Opus Acquisition Limited [OPA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.51. With this latest performance, OPA shares dropped by -0.71% in over the last four-week period, additionally sinking by -1.41% 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 OPA stock in for the last two-week period is set at 29.68, with the RSI for the last a single of trading hit 24.05, and the three-weeks RSI is set at 33.12 for Magnum Opus Acquisition Limited [OPA]. The present Moving Average for the last 50 days of trading for this stock 9.88, while it was recorded at 9.84 for the last single week of trading, and 9.90 for the last 200 days.

Magnum Opus Acquisition Limited [OPA]: Deeper insight into the fundamentals

Magnum Opus Acquisition Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.00 and a Current Ratio set at 0.00.

Insider trade positions for Magnum Opus Acquisition Limited [OPA]

18 institutional holders increased their position in Magnum Opus Acquisition Limited [NYSE:OPA] by around 4,622,374 shares. Additionally, 29 investors decreased positions by around 5,251,721 shares, while 18 investors held positions by with 6,294,168 shares. The mentioned changes placed institutional holdings at 16,168,263 shares, according to the latest SEC report filing. OPA stock had 13 new institutional investments in for a total of 2,780,622 shares, while 13 institutional investors sold positions of 3,348,951 shares during the same period.