Why Trine Acquisition Corp. (TRNE) Stock Could See Much Higher Prices Ahead

Trine Acquisition Corp. (NYSE: TRNE) is 12.53% higher on its value in year-to-date trading and has touched a low of $9.40 and a high of $10.73 in the current 52-week trading range. The TRNE stock was last observed hovering at around $10.14 in the last trading session, with the day’s gains setting it 1.09%.

Currently trading at $11.23, the stock is 9.81% and 8.93% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 19.76 million and changing 10.75% at the moment leaves the stock 11.77% off its SMA200. TRNE registered 15.30% gain for a year compared to 6-month gain of 10.64%. The firm has a 50-day simple moving average (SMA 50) of $0.02% and a 200-day simple moving average (SMA200) of $12.4k.

The stock witnessed a 7.36% loss in the last 1 month and extending the period to 3 months gives it a 12.30%, and is 10.97% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.86% over the week and 1.02% over the month.

Distance from 52-week low is 19.47% and 4.66% from its 52-week high.

Trine Acquisition Corp. (TRNE) Top Institutional Holders

42 institutions hold shares in Trine Acquisition Corp. (TRNE), with 2.24M shares held by insiders accounting for 24.67% while institutional investors hold 105.69% of the company’s shares. The shares outstanding are 30.02M, and float is at 1.59M with Short Float at 0.23%. Institutions hold 79.62% of the Float.

The top institutional shareholder in the company is Omni Partners LLP with over 2.39 million shares valued at $24.96 million. The investor’s holdings represent 7.96% of the TRNE Shares outstanding. As of Jun 29, 2020, the second largest holder is Glazer Capital LLC with 2.18 million shares valued at $22.77 million to account for 7.26% of the shares outstanding. The other top investors are UBS O’Connor LLC which holds 1.95 million shares representing 6.51% and valued at over $20.43 million, while Periscope Capital Inc. holds 5.75% of the shares totaling 1.73 million with a market value of $18.04 million.