Spartan Energy Acquisition Corp. (NYSE: SPAQ) Not A Good Play Anymore?

DE Stock
DE Stock

Periscope Capital, Inc. has recently announced that it has increased stake in Spartan Energy Acquisition Corp. (NYSE:SPAQ) by 30.74%. After grabbing 2.67 million shares, the institutional investor is now in possession of 0.63 million shares of the Financial Company. The new investment brought the stake of investor firm to 4.83% having worth around $32.86 million. Moreover, Castle Creek Arbitrage LLC increased its share by 1.2 million to have a control over 1.6 million shares. And Wolverine Asset Management LLC raised its holdings to 0.62 million shares by acquiring 1.21 million shares or 2.19% of the stake.

Spartan Energy Acquisition Corp. (SPAQ) concluded trading on 08/27/20 at a closing price of $13.12, with 4.25 million shares of worth about $55.77 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 7.89% during that period and on Thursday the price saw a loss of about -1.94%. Currently the company’s common shares owned by public are about 55.20M shares, out of which, 45.01M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 10 times over the past 12 months. They bought 0 shares in 0 of the transactions. In 10 selling transactions, insiders dumped 1,490,407 shares.

Westchester Capital Merger Fund, AQR Diversified Arbitrage Fund, and Special Opportunities Fund, Inc. are the top 3 mutual funds which are holding stakes in Spartan Energy Acquisition Corp. Westchester Capital Merger Fund is currently holding 0.68 million shares of worth totaling $8.44 million. The company recently came buying 24730.0 shares which brought its stake up to 1.24% of the company’s outstanding shares. AQR Diversified Arbitrage Fund bought 89998.0 shares, after which its hold over company’s outstanding shares expand to 0.44%, leaving 0.24 million shares with the mutual fund that have a worth of about $2.96 million. Special Opportunities Fund, Inc., after buying 50000.0 shares, have now control over 0.09% of the stake in the company. It holds 50000.0 shares of worth $0.62 million.

Spartan Energy Acquisition Corp. (NYSE: SPAQ) started trading at $13.40, above $0.02 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $13.12, or with a loss of -1.94%. Stock saw a price change of 7.89% in past 5 days and over the past one month there was a price change of -6.15%. Year-to-date (YTD), SPAQ shares are showing a performance of 29.03% which increased to 31.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.75 but also hit the highest price of $21.60 during that period. While comparing its average daily trading volume of 6.04 million shares, we see that about 4.25 million changed hands on the day. The stock is currently trading 4.54% above its 20-day simple moving average (SMA20), while that difference is up 5.04% for SMA50 and it goes to 22.14% higher than SMA200.

Periscope Capital, Inc. acquired 2.67 million shares of Spartan Energy Acquisition Corp. having value of about $32.86 million. Data submitted at the U.S SEC by Periscope Capital, Inc. revealed that the firm now holds 0.63 million shares in the company valued at close to $8227906.24, or have control over 30.74% stake in the company. Spartan Energy Acquisition Corp. (NYSE: SPAQ) currently have 55.20M outstanding shares and institutions hold larger chunk of about 71.41% of that. Holding of mutual funds in the company is about 65.21% while other institutional holders and individual stake holders have control over 9.85% and 1.82% of the stake respectively.

The stock has a current market capitalization of $724.22M. PE ratio of stock for trailing 12 months is 136.67, while it has posted earnings per share of $0.10 in the same period. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SPAQ, volatility over the week remained 7.32% while standing at 6.28% over the month.

Analysts at 0 brokerage firms have issued recommendations for the Spartan Energy Acquisition Corp. (SPAQ)’s stock out of those 0 Wall Street analysts, 0 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.


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