Why Tortoise Acquisition Corp. (SHLL) is the topic of conversation today

Tortoise Acquisition Corp. (NYSE: SHLL) is 390.19% higher on its value in year-to-date trading and has touched a low of $9.50 and a high of $42.85 in the current 52-week trading range. The SHLL stock was last observed hovering at around $39.44 in the last trading session, with the day’s gains setting it 9.53%.

Currently trading at $48.97, the stock is 75.99% and 99.96% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 8.93 million and changing 24.16% at the moment leaves the stock 260.26% off its SMA200. SHLL registered a gain of 388.24% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $24.69 and a 200-day simple moving average (SMA200) of $15.25.

The stock witnessed a 144.97% loss in the last 1 month and extending the period to 3 months gives it a 388.24%, and is 25.95% 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 15.42% over the week and 11.48% over the month.

Distance from 52-week low is 415.47% and 14.28% from its 52-week high.

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Tortoise Acquisition Corp. (SHLL) Top Institutional Holders

34 institutions hold shares in Tortoise Acquisition Corp. (SHLL), with institutional investors hold 77.09% of the company’s shares. The shares outstanding are 29.13M, and float is at 23.06M with Short Float at 5.25%. Institutions hold 77.09% of the Float.

The top institutional shareholder in the company is Adage Capital Partners GP L.L.C. with over 2.02 million shares valued at $20.23 million. The investor’s holdings represent 8.69% of the SHLL Shares outstanding. As of Dec 30, 2019, the second largest holder is Karpus Management Inc with 1.46 million shares valued at $14.62 million to account for 6.28% of the shares outstanding. The other top investors are CNH Partners LLC which holds 1.08 million shares representing 4.63% and valued at over $10.77 million, while RP Investment Advisors LP holds 4.51% of the shares totaling 1.05 million with a market value of $10.49 million.

Tortoise Acquisition Corp. (SHLL) Insider Activity

A total of 4 insider transactions have happened at Tortoise Acquisition Corp. (SHLL) in the last six months, with sales accounting for 4 and purchases happening 0 times. The most recent transaction is an insider sale by Polar Asset Management Partner, the company’s 10% Owner. SEC filings show that Polar Asset Management Partner sold 1,550,000 shares of the company’s common stock on Jun 19 at a price of $13.84 per share for a total of $21.45 million. Following the sale, the insider now owns 1.3 million shares.