Netfin Acquisition Corp. (NASDAQ:NFIN) Stock is Soaring, Here is Why

Netfin Acquisition Corp. (NASDAQ:NFIN) Stock is Soaring, Here is Why


The Netfin Acquisition Corp. (NFIN) shares are trading at higher $10.87.

To add more color to this target, the company’s high over the last year is $10.17 and the low is $8.70. Over the last 52 weeks, NFIN is up 6.88% while the S&P 500 is up 1.47%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, NFIN reported a profit of $2.09 million. Netfin Acquisition Corp. also saw revenues increase to $0.64 million. In addition, NFIN has free cash flow of -$0.35 million as of 03-2020 The company’s EBITDA came in at -$0.64 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. NFIN has a short ratio of 0.03 and outstanding shares of 32.31M.

Company Outlook

NFIN has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.09 million and more growth is possible in the weeks ahead. Netfin Acquisition Corp. NFIN also noted assets of $257.64 million at the end of the last quarter. Investors should also keep an eye on sector updates as NFIN has historically followed its peers on positive news.

All told, Netfin Acquisition Corp. NFIN has strung together solid data and demonstrated underlying fundamentals. At its current valuation, NFIN 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.

Netfin Acquisition Corp. NFIN is now commanding a market cap of 352.95M and a float of 25.30M. NFIN 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 NFIN 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 NFIN, either long or short, and we have not been compensated for this article.