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Why Is Trine II Acquisition Corp. (NYSE: TRAQ) Gaining?

Trine II Acquisition Corp. (NYSE:TRAQ) traded at $10.34 at close of the session on Tuesday, 01/24/23, made an upward move of 0.10% on its previous day’s price.

Looking at the stock we see that its previous close was $10.33 with the day’s price range being $10.33 – $10.35. The company has a trailing 12-month PE ratio of 22.68. In terms of its 52-week price range, TRAQ has a high of $10.35 and a low of $9.80. The company’s stock has gained about 0.98% over that past 30 days.

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Trine II Acquisition Corp. has a market cap of $535.10 million.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the TRAQ stock, short term indicators assign the stock an average of 100% Buy, while medium term indicators assign it an average of 100% Buy. Long term indicators on average place the stock in the category of 100% Buy.

Looking further, we note the current price level is 0.62% off its SMA20 and 1.54% from its 50-day simple moving average. The RSI (14) is pointing at 74.92 while the volatility over the past week is 0.22% and jumps to 0.16% over the past one month.

Coming back to Trine II Acquisition Corp. (NYSE:TRAQ), we note that the average 3-month trading volume was 43.97K, while that of the preceding 10-day period stands at 0.12 million. Current shares outstanding are 51.75 million.

The institutions hold 73.80%. The data shows that short shares as of Oct 13, 2022, stood at 810.0 at a short ratio of 0.01. This represents a 0.00% short interest in shares outstanding on Oct 13, 2022. Shares short fall in October from the previous month at 2370.0. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 0.34% up in year-to-date price movement.

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