Research Alliance Corp. II [RACB] Stock trading around $10.01 per share: What’s Next?

Research Alliance Corp. II [NASDAQ: RACB] stock went on an upward path that rose over 1.06% on Wednesday, amounting to a one-week price increase of more than 1.27%.

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The market cap for the stock reached $192.00 million, with 19.19 million shares outstanding and 14.95 million shares in the current float. Compared to the average trading volume of 184.46K shares, RACB stock reached a trading volume of 5334035 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Research Alliance Corp. II [RACB]:

The Average True Range (ATR) for Research Alliance Corp. II is set at 0.03 The Price to Book ratio for the last quarter was 1.32, with the Price to Cash per share for the same quarter was set at 0.03.

RACB Stock Performance Analysis:

Research Alliance Corp. II [RACB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.27. With this latest performance, RACB shares gained by 1.88% in over the last four-week period, additionally plugging by 2.93% 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 RACB stock in for the last two-week period is set at 73.98, with the RSI for the last a single of trading hit 78.86, and the three-weeks RSI is set at 69.75 for Research Alliance Corp. II [RACB]. The present Moving Average for the last 50 days of trading for this stock 9.83, while it was recorded at 9.91 for the last single week of trading, and 9.93 for the last 200 days.

Insight into Research Alliance Corp. II Fundamentals:

Return on Equity for this stock declined to -0.63, with Return on Assets sitting at -0.60.

Research Alliance Corp. II’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 4.60.

Research Alliance Corp. II [RACB] Insider Position Details

There are presently around $142 million, or 92.20% of RACB stock, in the hands of institutional investors. The top three institutional holders of RACB stocks are: SABA CAPITAL MANAGEMENT, L.P. with ownership of 1,909,584, which is approximately New of the company’s market cap and around 3.23% of the total institutional ownership; SCULPTOR CAPITAL LP, holding 1,478,819 shares of the stock with an approximate value of $14.8 million in RACB stocks shares; and CITADEL ADVISORS LLC, currently with $12.8 million in RACB stock with ownership of nearly 35.475% of the company’s market capitalization.

15 institutional holders increased their position in Research Alliance Corp. II [NASDAQ:RACB] by around 3,873,057 shares. Additionally, 12 investors decreased positions by around 3,992,898 shares, while 21 investors held positions by with 6,323,655 shares. The mentioned changes placed institutional holdings at 14,189,610 shares, according to the latest SEC report filing. RACB stock had 8 new institutional investments in for a total of 2,331,069 shares, while 9 institutional investors sold positions of 3,849,250 shares during the same period.


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