Shares of Switchback Energy Acquisition Co. (NYSE:SBE) fell 8.6% during trading on Tuesday . The stock traded as low as $26.73 and last traded at $33.18. 3,904,974 shares changed hands during mid-day trading, an increase of 32% from the average session volume of 2,961,542 shares. The stock had previously closed at $36.29.
SBE has been the subject of several recent research reports. Roth Capital began coverage on shares of Switchback Energy Acquisition in a report on Friday, February 5th. They set a “buy” rating and a $46.00 target price for the company. Wolfe Research began coverage on shares of Switchback Energy Acquisition in a report on Thursday, December 10th. They set an “outperform” rating for the company.
The company has a 50-day simple moving average of $39.73.
About Switchback Energy Acquisition (NYSE:SBE)
Switchback Energy Acquisition Corporation does not have significant operations. It intends to identify and acquire companies through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combinations. The company focuses on investing in businesses and/or assets in the upstream and midstream energy sectors primarily in North America.
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