Atlas Crest Investment Corp. II [ACII] is 2.83% higher this YTD. Is it still time to buy?

Atlas Crest Investment Corp. II [NYSE: ACII] surged by $0.07 during the normal trading session on Wednesday and reaching a high of $10.01 during the day while it closed the day at $10.01. The company report on October 25, 2022 that Atlas Crest Investment Corp. II Files Preliminary Proxy Statement to Obtain Stockholder Approval for Early Liquidation.


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Atlas Crest Investment Corp. II (NYSE: ACII.U, “ACII”, or the “Company”) announced today that it has filed a preliminary proxy statement to seek stockholder approval to adopt amendments to its Amended and Restated Certificate of Incorporation (“Certificate of Incorporation”) to allow the Company to redeem all of its outstanding public shares and liquidate no later than December 30, 2022, in advance of the automatic termination date in its current Certificate of Incorporation of February 8, 2023.

Since its IPO on February 4, 2021, ACII management has conducted a rigorous search for appropriate targets, evaluating over 130 companies with the goal of completing a business combination that met its investment criteria. ACII management has thoroughly evaluated current adverse market conditions including unconducive capital markets, an overall decline in the SPAC market and a limited pool of public company-ready business combinations interested in pursuing a business combination via a SPAC, which have complicated efforts to find an appropriate target. ACII management has also reviewed recent changes in U.S. tax law that could create tax liabilities in connection with stockholder redemptions after December 31, 2022. As a result of these factors, ACII believes that it is in the best interests of its stockholders to liquidate the Company early.

Atlas Crest Investment Corp. II stock has also gained 0.86% of its value over the past 7 days. However, ACII stock has inclined by 1.78% in the 3 months of the year. Over the past six months meanwhile, it has gained 1.88% and gained 2.83% year-on date.

The market cap for ACII stock reached $431.52 million, with 43.12 million shares outstanding and 34.50 million shares in the current float. Compared to the average trading volume of 150.04K shares, ACII reached a trading volume of 6546306 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Atlas Crest Investment Corp. II [ACII]:

The Average True Range (ATR) for Atlas Crest Investment Corp. II is set at 0.02 The Price to Book ratio for the last quarter was 1.26, with the Price to Cash per share for the same quarter was set at 0.00.

ACII stock trade performance evaluation

Atlas Crest Investment Corp. II [ACII] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.86. With this latest performance, ACII shares gained by 1.47% in over the last four-week period, additionally plugging by 1.88% over the last 6 months – not to mention a rise of 2.83% 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 ACII stock in for the last two-week period is set at 85.93, with the RSI for the last a single of trading hit 92.16, and the three-weeks RSI is set at 80.66 for Atlas Crest Investment Corp. II [ACII]. The present Moving Average for the last 50 days of trading for this stock 9.87, while it was recorded at 9.94 for the last single week of trading, and 9.81 for the last 200 days.

Atlas Crest Investment Corp. II [ACII]: An insightful look at the core fundamentals

Return on Equity for this stock inclined to 4.98, with Return on Assets sitting at 4.79.

Atlas Crest Investment Corp. II’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.80.

Atlas Crest Investment Corp. II [ACII]: Insider Ownership positions

33 institutional holders increased their position in Atlas Crest Investment Corp. II [NYSE:ACII] by around 3,682,085 shares. Additionally, 24 investors decreased positions by around 2,490,876 shares, while 52 investors held positions by with 23,700,182 shares. The mentioned changes placed institutional holdings at 29,873,143 shares, according to the latest SEC report filing. ACII stock had 8 new institutional investments in for a total of 1,372,279 shares, while 8 institutional investors sold positions of 973,448 shares during the same period.

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