Concord Acquisition Corp II (NYSE:CNDA) traded with an addition of $0.01 to $10.34 on Thursday, an upside of 0.10 percent. An average of 3,177,977 shares of common stock have been traded in the last five days. There was a fall of -$0.03 in the past week, and it reached a new high 29 times over the past 12 months. The last 20 days have seen an average of 902,969 shares traded, while the 50-day average volume stands at 487,394.
CNDA stock has increased by 0.29% in the last month. The company shares reached their 1-month lowest point of $10.30 on 07/28/23. With the stock rallying to its 52-week high on 05/02/23, shares of the company touched a low of $9.68 and a high of $10.75 in 52 weeks. It has reached a new high 10 times so far this year and achieved 3.97% or $0.40 in price. In spite of this, the price is down -3.81% from the 52-week high.
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Valuation Metrics
Concord Acquisition Corp II (CNDA) has a trailing price-to-earnings (P/E) ratio of 38.15. The stock’s beta is 0.03. Other valuation ratios to consider include the price-to-book (PB) ratio at 1.30.
Financial Health
The quick ratio of Concord Acquisition Corp II for the recent quarter was 5.10, and the current ratio was 5.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the recent quarter.
Earnings Surprise
The company posted a net income of $2.83 million in the quarter, while revenues of $2.76 million were shrunk -97.53%. At the end of the recent quarter, Concord Acquisition Corp II’s stock balance sheet showed total liabilities of 298.59 million. Shareholders own equity worth $35.01 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Concord Acquisition Corp II (CNDA) price momentum. RSI 9-day as of the close on 23 August was 55.42%, suggesting the stock is Neutral, with historical volatility in this time frame at 3.19%.
As of today, CNDA’s price is $10.33 -0.29% or -$0.03 from its 5-day moving average. CNDA is currently trading +0.30% higher than its 20-day SMA and +2.47% higher than its 100-day SMA. However, the stock’s current price level is +1.08% above the SMA50 and +6.60% above the SMA200.
The stochastic %K and %D were 10.31% and 12.06%, respectively, and the average true range (ATR) was 0.07. With the 14-day stochastic at 9.09% and the average true range at 0.06, the RSI (14) stands at 57.04%. The stock has reached 0.00 on the 9-day MACD Oscillator while the 14-day reading was at 0.00.
