Raymond James Financial Services Advisors Inc. Makes New Investment in Switchback Energy Acquisition Co. (NYSE:SBE)

Raymond James Financial Services Advisors Inc. bought a new stake in shares of Switchback Energy Acquisition Co. (NYSE:SBE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,003 shares of the company’s stock, valued at approximately $641,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in Switchback Energy Acquisition in the fourth quarter worth $30,000. Steward Partners Investment Advisory LLC bought a new stake in Switchback Energy Acquisition in the fourth quarter worth $30,000. International Assets Investment Management LLC bought a new stake in Switchback Energy Acquisition in the fourth quarter worth $40,000. CWM LLC bought a new stake in Switchback Energy Acquisition in the fourth quarter worth $45,000. Finally, HM Payson & Co. bought a new stake in Switchback Energy Acquisition in the third quarter worth $31,000. 28.80% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:SBE opened at $31.09 on Thursday. Switchback Energy Acquisition Co. has a 12-month low of $9.38 and a 12-month high of $49.48. The stock has a 50-day moving average price of $28.62 and a 200 day moving average price of $29.03.

SBE has been the topic of a number of research analyst reports. Roth Capital initiated coverage on Switchback Energy Acquisition in a report on Friday, February 5th. They set a “buy” rating and a $46.00 price target on the stock. Wolfe Research started coverage on Switchback Energy Acquisition in a research report on Thursday, December 10th. They issued an “outperform” rating for the company.

About Switchback Energy Acquisition

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.

Further Reading: Example of operating income, EBIT and EBITDA

Institutional Ownership by Quarter for Switchback Energy Acquisition (NYSE:SBE)

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