Weekly Performance Analysis for Trine II Acquisition Corp. (TRAQ)

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Trine II Acquisition Corp. (NYSE:TRAQ) saw an upside of 0.10% to close Tuesday at $10.34 after adding $0.01 on the day. The 5-day average trading volume is 655,440 shares of the company’s common stock. It has gained $10.35 in the past week and touched a new high 5 times within the past 5 days. An average of 201,055 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 97,196.

TRAQ’s 1-month performance is 0.98% or $0.07 on its low of $10.25 reached on 01/04/23. The company’s shares have touched a 52-week low of $9.80 and high of $10.35, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, TRAQ has achieved 0.34% or $0.03 and has reached a new high 9 times. However, the current price is down -0.10% from the 52-week high price.

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Valuation Metrics

Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 1.31.

Trine II Acquisition Corp.’s quick ratio for the recent period was 0.10, with the current ratio over the same period at 0.10.

Earnings Surprise

Net income grew 100.0% to $3.21 million, while revenue of $5.5 million was -71.34% off the previous quarter. Shareholders hold equity totaling $51.75 million.

Let’s look briefly at Trine II Acquisition Corp. (TRAQ) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 80.70% to suggest the stock is trending Overbought, with historical volatility in this time period at 1.04%.

The stock’s 5-day moving average is $10.31, reflecting a +0.49% or $0.05 change from its current price. TRAQ is currently trading +1.08% above its 20-day SMA, +3.92% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +2.99% and SMA200 by+4.87%.

Stochastic %K and %D was 78.89% and 72.22% and the average true range (ATR) pointed at 0.02. The RSI (14) points at 74.92%, while the 14-day stochastic is at 90.00% with the period’s ATR at 0.02. The stock’s 9-day MACD Oscillator is pointing at 0.03 and 0.03 on the 14-day charts.

Analyst Ratings

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