Investor Confidence is Rising for AMCI Acquisition Corp. (NASDAQ:AMCI)

Investor Confidence is Rising for AMCI Acquisition Corp. (NASDAQ:AMCI)

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The AMCI Acquisition Corp. (AMCI) shares are trading at higher $10.34.

To add more color to this target, the company’s high over the last year is $10.92 and the low is $9.85. Over the last 52 weeks, AMCI is down -5.32% while the S&P 500 is down -2.55%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, AMCI reported a profit of $0.7 million. AMCI Acquisition Corp. also saw revenues increase to $0.18 million. In addition, AMCI has free cash flow of -$0.35 million as of 03-2020 The company’s EBITDA came in at -$0.18 million which compares well with its peers.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. AMCI has a short ratio of 0.05 and outstanding shares of 27.57M.

Company Outlook

AMCI has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 33310.0 and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.01. AMCI Acquisition Corp. AMCI also noted assets of $226.38 million at the end of the last quarter. Investors should also keep an eye on sector updates as AMCI has historically followed its peers on positive news.

All told, AMCI Acquisition Corp. AMCI has strung together solid data and demonstrated underlying fundamentals. At its current valuation, AMCI represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

AMCI Acquisition Corp. AMCI is now commanding a market cap of 283.50M and a float of 22.05M. AMCI is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of AMCI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in AMCI, either long or short, and we have not been compensated for this article.