Collective Growth Corporation (CGRO) shares are trading at higher $12.03.
To add more color to this target, the company’s high over the last year is $10.50 and the low is $9.65 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
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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. CGRO has a short ratio of 0.02 and outstanding shares of 19.01M.
CGRO has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.2 million and more growth is possible in the weeks ahead. Investors should also keep an eye on sector updates as CGRO has historically followed its peers on positive news.
All told, Collective Growth Corporation CGRO has strung together solid data and demonstrated underlying fundamentals. At its current valuation, CGRO 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.
Collective Growth Corporation CGRO is now commanding a market cap of 188.15M and a float of 15.26M. CGRO 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 CGRO 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 CGRO, either long or short, and we have not been compensated for this article.