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Saturday, September 30, 2023

Apex Technology Acquisition Corporation (NASDAQ:APXT) is Waving the Bull Flag

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Apex Technology Acquisition Corporation (APXT) shares are trading at higher $14.10.

To add more color to this target, the company’s high over the last year is $17.25 and the low is $9.13 while the S&P 500 is up 18.53%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

APXT Return on Equity (ROE) is 0.40%, and its Return on Assets is 0.40%. All told, it is clear that, APXT needs to be on your watchlist.

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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. APXT has a short ratio of 0.11 and outstanding shares of 44.56M.

Company Outlook

APXT has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 14.24 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.03. Apex Technology Acquisition Corporation APXT also noted assets of $352.96 million at the end of the last quarter. Investors should also keep an eye on sector updates as APXT has historically followed its peers on positive news.

All told, Apex Technology Acquisition Corporation APXT has strung together solid data and demonstrated underlying fundamentals. At its current valuation, APXT 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.

Apex Technology Acquisition Corporation APXT is now commanding a market cap of 614.48M and a float of 35.81M. APXT 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 APXT 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 APXT, either long or short, and we have not been compensated for this article.

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