ACE Convergence Acquisition Corp. (NASDAQ:ACEV) shares, dropped in value on Wednesday, Jan 13, with the stock price down by -1.5% to the previous day’s close as weak demand from buyers trailed the stock to $11.19.

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Actively observing the price movement in the last trading, the stock closed the session at $11.36, falling within a range of $11.15 and $11.40. The value of beta (5-year monthly) was 0 whereas the PE ratio was 0 over 12-month period. Referring to stock’s 52-week performance, its high was $12.95, and the low was $9.6. On the whole, ACEV has fluctuated by 10.25% over the past month.

Data on historical trading for ACE Convergence Acquisition Corp. (NASDAQ:ACEV) indicates that the trading volumes over the past 10 days have averaged 2.68 Million and over the past 3 months, they’ve averaged 364.5 Million. According to company’s latest data on outstanding shares, there are 23Million shares outstanding.

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Nearly 0% of ACE Convergence Acquisition Corp.’s shares belong to company insiders and institutional investors own 35.71% of the company’s shares, according to Thomson Reuters’ data. The data on short interest also indicates that stock shorts accounted for 96.31 Million shares as on December 30, 2020, resulting in a short ratio of 0.89. According to the data, the short interest in ACE Convergence Acquisition Corp. (ACEV) stood at 0.34% of shares outstanding as of December 30, 2020; the number of short shares registered in November reached 868Thousand. The stock has risen by +9.49% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ACEV stock heading into the next quarter.

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