The FinTech Acquisition Corp. III (FTAC) shares are trading at lower $10.42.
To add more color to this target, the company’s high over the last year is $11.55 and the low is $9.75. Over the last 52 weeks, FTAC is down -9.78% while the S&P 500 is up 0.70%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, FTAC reported a profit of $96000.0. FinTech Acquisition Corp. III also saw revenues increase to $0.33 million. In addition, FTAC has free cash flow of -$1.02 million as of 06-2020. The company’s EBITDA came in at -$0.33 million which compares well with its peers.
Find out when FTAC reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
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. FTAC has a short ratio of 0.29 and outstanding shares of 36.14M.
FTAC has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.37 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.09. FinTech Acquisition Corp. III FTAC also noted assets of $353.74 million at the end of the last quarter. Investors should also keep an eye on sector updates as FTAC has historically followed its peers on positive news.
All told, FinTech Acquisition Corp. III FTAC has strung together solid data and demonstrated underlying fundamentals. At its current valuation, FTAC 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.
FinTech Acquisition Corp. III FTAC is now commanding a market cap of 376.58M and a float of 25.74M. FTAC 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 FTAC 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 FTAC, either long or short, and we have not been compensated for this article.