Is a Correction Looming Ahead for Hennessy Capital Acquisition Corp. IV (HCAC)

Hennessy Capital Acquisition Corp. IV (NASDAQ:HCAC) went up by 2.05% from its latest closing price compared to the recent 1-year high of $13.10. The company’s stock price has collected 17.90% of gains in the last five trading sessions. Press Release reported 10 hours ago that Electric Vehicle Company Canoo To Present At The RBC Capital Markets Global Industrials Conference

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Is It Worth Investing in Hennessy Capital Acquisition Corp. IV (NASDAQ :HCAC) Right Now?

Hennessy Capital Acquisition Corp. IV (NASDAQ:HCAC) scored a price-to-earnings ratio above its average ratio, recording 1155.45 x from its present earnings ratio. Opinions of the stock are interesting as 0 analysts out of 0 who provided ratings for Hennessy Capital Acquisition Corp. IV declared the stock was a “buy,” while 0 rated the stock as “overweight,” 0 rated it as “hold,” and 0 as “sell.”

HCAC currently public float of 30.02M and currently shorts hold a 0.55% ratio of that float. Today, the average trading volume of HCAC was 1.03M shares.

HCAC’s Market Performance

HCAC stocks went up by 17.90% for the week, with a monthly jump of 17.69% and a quarterly performance of 22.21%, while its annual performance rate touched 28.38%. The volatility ratio for the week stands at 5.92% while the volatility levels for the past 30 days are set at 3.54% for Hennessy Capital Acquisition Corp. IV. The simple moving average for the period of the last 20 days is 18.84% for HCAC stocks with a simple moving average of 24.76% for the last 200 days.

HCAC Trading at 17.70% from the 50-Day Moving Average

After a stumble in the market that brought HCAC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -0.99% of loss for the given period.

Volatility was left at 3.54%, however, over the last 30 days, the volatility rate increased by 5.92%, as shares surge +20.79% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +20.00% upper at present.

During the last 5 trading sessions, HCAC rose by +17.28%, which changed the moving average for the period of 200-days by +27.85% in comparison to the 20-day moving average, which settled at $11.03. In addition, Hennessy Capital Acquisition Corp. IV saw 25.10% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at HCAC starting from GLAZER CAPITAL, LLC, who sold 125,111 shares at the price of $12.23 back on Jul 23. After this action, GLAZER CAPITAL, LLC now owns 2,984,865 shares of Hennessy Capital Acquisition Corp. IV, valued at $1,530,108 using the latest closing price.

GLAZER CAPITAL, LLC, the 10% Owner of Hennessy Capital Acquisition Corp. IV, sold 28,855 shares at $11.13 during a trade that took place back on Jul 22, which means that GLAZER CAPITAL, LLC is holding 3,109,976 shares at $321,241 based on the most recent closing price.

Stock Fundamentals for HCAC

The total capital return value is set at -2.20, while invested capital returns managed to touch 0.78. Equity return is now at value 0.10, with 0.10 for asset returns.

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