CIIG Merger Corp. (NASDAQ:CIIC) Stock Forecast: Potential to Pass $0 in A Year

CIIG Merger Corp. (NASDAQ:CIIC) price closed lower on Thursday, Dec 31, sinking -2.7% below its previous close.

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A look at the daily price movement shows that the last close reads $28.9, with intraday deals fluctuated between $27.66 and $29.00. The company’s 5Y monthly beta was ticking 0 while its P/E ratio in the trailing 12-month period read 0. Taking into account the 52-week price action we note that the stock hit a 52-week high of $37.18 and 52-week low of $9.3. The stock added 40.39% on its value in the past month.

An analysis of the CIIG Merger Corp. (NASDAQ:CIIC) stock in terms of its daily trading volume indicates that the 3-month average is 3.89 Million. However, this figure declines on the past 10-day timeline to an average of 1.93 Million.

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Current record show that the company has 25.88 Million in outstanding shares. According to data from Thomson Reuters, insiders’ percentage holdings are 0% of outstanding shares while the percentage share held by institutions stands at 66.47%. The stats also highlight that short interest as of December 14, 2020, stood at 1.69 Million shares, which puts the short ratio at the time at 0.17. From this we can glean that short interest is 5.22% of company’s current outstanding shares. Notably, we see that shares short in December fell slightly given the previous month’s figure stood at 10.81 Million. But the +182.61% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.

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