Trident Acquisitions Corp. (NASDAQ:TDAC)’s share price fell 11.7% during trading on Tuesday . The stock traded as low as $11.61 and last traded at $13.11. 1,515,069 shares changed hands during trading, an increase of 150% from the average session volume of 606,091 shares. The stock had previously closed at $14.85.
The firm has a market cap of $156.90 million, a P/E ratio of -120.08 and a beta of 0.07. The company has a 50-day moving average of $13.06 and a 200 day moving average of $11.69.
In related news, major shareholder Glazer Capital, Llc sold 723,775 shares of the firm’s stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $12.67, for a total transaction of $9,170,229.25. 29.40% of the stock is owned by company insiders.
About Trident Acquisitions (NASDAQ:TDAC)
Trident Acquisitions Corp. does not have significant operations. It intends to enter into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more target businesses primarily in the oil and gas or other natural resource sector.
Read More: Trading Halts
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