Fat Projects Acquisition Corp (NASDAQ: FATP) stock jumped 1.79% on Wednesday to $10.80 against a previous-day closing price of $10.61. With 0.53 million shares changed hands, the volume of the stock remained heavier than its average volume of 41830.0 shares. During the session, the Shell Companies company that operates in wider Financial sector, reached to the highest price of $11.19 whereas the lowest price it dropped to was $10.59. The 52-week range on FATP shows that it touched its highest point at $12.27 and its lowest point at $9.87 during that stretch.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of FATP was up-trending over the past week, with a rise of 2.22%, but this was up by 1.12% over a month. Three-month performance surged to 5.06% while six-month performance rose 8.54%. The stock gained 11.23% in the past year, while it has gained 6.51% so far this year.
Float and Shares Shorts:
At present, 14.49 million FATP shares are outstanding with a float of 5.19 million shares on hand for trading. On Apr 27, 2023, short shares totaled 4450.0, which was 0.05% higher than short shares on Mar 30, 2023. In addition to Mr. Tristan Lo as the firm’s Co-CEO & Chairman, Mr. David Andrada serves as its Co-CEO, CFO & Director.
Through their ownership of 124.63% of FATP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 6.58% of FATP, in contrast to 5.44% held by mutual funds. Shares owned by individuals account for 34.29%. As the largest shareholder in FATP with 5.17% of the stake, Polar Asset Management Partners, holds 600,000 shares worth 600,000. A second-largest stockholder of FATP, Oaktree Capital Management LP, holds 560,000 shares, controlling over 4.82% of the firm’s shares. Westchester Capital Management LL is the third largest shareholder in FATP, holding 535,400 shares or 4.61% stake. With a 3.77% stake in FATP, the Merger Fund is the largest stakeholder. A total of 437,658 shares are owned by the mutual fund manager. The First Trust Merger Arbitrage Fund, which owns about 1.29% of FATP stock, is the second-largest Mutual Fund holder. It holds 150,000 shares valued at 1.58 million. Janus Henderson Fund – Global Mul holds 0.63% of the stake in FATP, owning 73,320 shares worth 0.77 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Dec 30, 2022, FATP reported revenue of $0.00 and operating income of -$262.80k. The EBITDA in the recently reported quarter was -$262.80k and diluted EPS was -$0.03.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for FATP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.