Switchback Energy Acquisition Corporation (NYSE:SBE) shares, dropped in value on Wednesday, Jan 13, with the stock price down by -0.22% to the previous day’s close as weak demand from buyers trailed the stock to $44.4.
Actively observing the price movement in the last trading, the stock closed the session at $44.5, falling within a range of $43.75 and $46.30. 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 $49.48, and the low was $9.38. On the whole, SBE has fluctuated by 17.12% over the past month.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SBE’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
Data on historical trading for Switchback Energy Acquisition Corporation (NYSE:SBE) indicates that the trading volumes over the past 10 days have averaged 3.82 Million and over the past 3 months, they’ve averaged 5.24 Million. According to company’s latest data on outstanding shares, there are 31.41 Million shares outstanding.
Nearly 25.64% of Switchback Energy Acquisition Corporation’s shares belong to company insiders and institutional investors own 72.82% of the company’s shares, according to Thomson Reuters’ data. The data on short interest also indicates that stock shorts accounted for 5.52 Million shares as on December 30, 2020, resulting in a short ratio of 0.86. According to the data, the short interest in Switchback Energy Acquisition Corporation (SBE) stood at 14.06% of shares outstanding as of December 30, 2020; the number of short shares registered in November reached 4.54 Million. The stock has risen by +10.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SBE stock heading into the next quarter.
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