The Oaktree Acquisition Corp. (OAC) shares are trading at higher $10.16.
To add more color to this target, the company’s high over the last year is $10.19 and the low is $9.40. Over the last 52 weeks, OAC is down -0.29% 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, OAC reported a profit of $1.58 million. Oaktree Acquisition Corp. also saw revenues increase to $0.25 million. In addition, OAC has free cash flow of $29000.0 as of 03-2020 The company’s EBITDA came in at -$0.25 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. OAC has a short ratio of 0.03 and outstanding shares of 20.13M.
OAC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 98400.0 and more growth is possible in the weeks ahead. Oaktree Acquisition Corp. OAC also noted assets of $206.29 million at the end of the last quarter. Investors should also keep an eye on sector updates as OAC has historically followed its peers on positive news.
All told, Oaktree Acquisition Corp. OAC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, OAC 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.
Oaktree Acquisition Corp. OAC is now commanding a market cap of 204.47M and a float of 14.29M. OAC 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 OAC 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 OAC, either long or short, and we have not been compensated for this article.