InterPrivate Acquisition Corp. (IPV) shares are trading at higher $14.28.
To add more color to this target, the company’s high over the last year is $12.50 and the low is $9.15 while the S&P 500 is up 17.22%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
IPV Return on Equity (ROE) is 0.50%, and its Return on Assets is 0.50%. All told, it is clear that, IPV needs to be on your watchlist.
Find out when IPV 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. IPV has a short ratio of 0.09 and outstanding shares of 31.05M.
Company Outlook
IPV has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.05 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.04. Investors should also keep an eye on sector updates as IPV has historically followed its peers on positive news.
All told, InterPrivate Acquisition Corp. IPV has strung together solid data and demonstrated underlying fundamentals. At its current valuation, IPV 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.
InterPrivate Acquisition Corp. IPV is now commanding a market cap of 405.84M and a float of 0.65M. IPV 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 IPV 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 IPV, either long or short, and we have not been compensated for this article.