The Spartan Energy Acquisition Corp. (SPAQ) shares are trading at lower $14.50.
To add more color to this target, the company’s high over the last year is $21.60 and the low is $9.75. Over the last 52 weeks, SPAQ is down -32.87% while the S&P 500 is up 0.21%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, SPAQ reported a profit of $4.36 million. Spartan Energy Acquisition Corp. also saw revenues increase to $17000.0. In addition, SPAQ has free cash flow of -$0.18 million as of 03-2020. The company’s EBITDA came in at $17000.0 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. SPAQ has a short ratio of 0.06 and outstanding shares of 55.20M.
Company Outlook
SPAQ has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 21.13 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.15. Spartan Energy Acquisition Corp. SPAQ also noted assets of $570.0 million at the end of the last quarter. Investors should also keep an eye on sector updates as SPAQ has historically followed its peers on positive news.
All told, Spartan Energy Acquisition Corp. SPAQ has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SPAQ 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.
Spartan Energy Acquisition Corp. SPAQ is now commanding a market cap of 800.40M and a float of 44.81M. SPAQ 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 SPAQ 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 SPAQ, either long or short, and we have not been compensated for this article.