Why Triterras Inc. (NASDAQ: TRIT) Stock Should Not Be Discarded By Investors In 2021

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In today’s recent session, 0.67 million shares of the Triterras Inc. (NASDAQ:TRIT) were traded. Most recently the company’s share price was $4.81, and it changed around -$0.02 or -0.41% from the last close, which brings the market valuation of the company to $401.84M. TRIT at last check was trading at a discount to its 52-week high of $15.45, offering almost -221.21% off that amount. The share price’s 52-week low was $4.68, which indicates that the recent value has risen by an impressive 2.7% since then. We note from Triterras Inc.’s average daily trading volume that its 3-month average coming to 1.44 million.

Triterras Inc. stock received a consensus recommendation rating of a Hold, based on a mean score of 2.50. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended TRIT as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Triterras Inc. is expected to report earnings per share of $0 for the current quarter.

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Instantly TRIT has been showing red trend so far today with a performance of -0.41% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 5.81 on Tuesday, 11/23/21 increased the stock’s daily price by 17.21%. The company’s shares are currently down -56.21% year-to-date, but still down -18.00% over the last five days. On the other hand, Triterras Inc. (NASDAQ:TRIT) is -29.59% down in the 30-day period.

The consensus price target as assigned by Wall Street analysts is $5.00, which translates to bulls needing to increase their stock price by 3.8% from its current value. Analyst projections state that TRIT is forecast to be at a low of $5.00 and a high of $5.00. In order for the stock price to hit the forecast high, the stock would need to plunge -3.95% from its current level, while the stock would need to crash -3.95% from its current level to reach the projected low.

Triterras Inc. (TRIT) estimates and forecasts

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $21.45 million in revenue for the current quarter. 2 analysts expect Triterras Inc. to make $22.75 million in revenue for the quarter ending Feb 2021.

TRIT Dividends

Triterras Inc.’s next quarterly earnings report is expected to be released in December.

Triterras Inc. (NASDAQ:TRIT)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 62.07% of Triterras Inc. shares, and 7.72% of them are in the hands of institutional investors. The stock currently has a share float of 20.36%. Triterras Inc. stock is held by 35 institutions, with Mirae Asset Global Investments Co., Ltd. being the largest institutional investor. By Sep 29, 2021, it held 0.73% of the shares, which is about 0.61 million shares worth $3.54 million.

Advisor Group, Inc., with 0.44% or 0.36 million shares worth $2.12 million as of Sep 29, 2021, holds the second largest percentage of outstanding shares.

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Global X Fds-Global X FinTech Thematic ETF and Fidelity NASDAQ Composite Index Fund were the top two Mutual Funds as of Oct 30, 2021. The former held 0.61 million shares worth $4.59 million, making up 0.74% of all outstanding shares. On the other hand, Fidelity NASDAQ Composite Index Fund held roughly 21906.0 shares worth around $0.13 million, which represents about 0.03% of the total shares outstanding.

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