Lordstown Motors Corp. [NASDAQ: RIDE] traded at a high on 11/20/20, posting a 4.01 gain after which it closed the day’ session at $26.46. The company report on November 16, 2020 that Lordstown Motors Releases Business Updates; Remains on Track to Begin Production of the Lordstown Endurance in September 2021.
Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light duty trucks focused on the commercial fleet market, announced recent commercial, operational and strategic developments, as it remains on track to begin production of the Lordstown Endurance, the world’s first full-size, all-electric pickup truck, in September 2021.
With the completion of Lordstown Motors’ business combination and subsequent listing on the Nasdaq occurring after the conclusion of the third quarter of 2020, the company expects to report earnings on a normal schedule commencing with year-end results for 2020. In lieu of providing a more immediate update through an earnings release or conference call, Lordstown Motors has disclosed updates related to demand indicators, production milestones, hiring and facilities, service and internal promotions.
The results of the trading session contributed to over 6468685 shares changing hands. Over the past one week, the price volatility of Lordstown Motors Corp. stands at 15.30% while the volatility over the past one month is 12.58%.
The market cap for RIDE stock reached $4.20 billion, with 164.95 million shares outstanding and 99.21 million shares in the current float. Compared to the average trading volume of 4.78M shares, RIDE reached a trading volume of 6468685 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Lordstown Motors Corp. [RIDE]?
Vertical Research have made an estimate for Lordstown Motors Corp. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on November 20, 2020.
The Average True Range (ATR) for Lordstown Motors Corp. is set at 2.56 The Price to Book ratio for the last quarter was 3.40, with the Price to Cash per share for the same quarter was set at 0.00.
How has RIDE stock performed recently?
Lordstown Motors Corp. [RIDE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 47.82. With this latest performance, RIDE shares gained by 29.39% in over the last four-week period, additionally plugging by 165.66% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RIDE stock in for the last two-week period is set at 64.81, with the RSI for the last a single of trading hit 70.10, and the three-weeks RSI is set at 60.81 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 22.04, while it was recorded at 25.33 for the last single week of trading, and 13.83 for the last 200 days.
Lordstown Motors Corp. [RIDE]: Deeper insight into the fundamentals
Lordstown Motors Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.10 and a Current Ratio set at 0.10.
Insider trade positions for Lordstown Motors Corp. [RIDE]
There are presently around $276 million, or 6.30% of RIDE stock, in the hands of institutional investors. The top three institutional holders of RIDE stocks are: BLACKROCK INC. with ownership of 4,062,500, which is approximately New of the company’s market cap and around 20.00% of the total institutional ownership; DAVIDSON KEMPNER CAPITAL MANAGEMENT LP, holding 1,500,000 shares of the stock with an approximate value of $39.69 million in RIDE stocks shares; and HOLOCENE ADVISORS, LP, currently with $33.03 million in RIDE stock with ownership of nearly New of the company’s market capitalization.
58 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 10,165,495 shares. Additionally, 44 investors decreased positions by around 19,457,268 shares, while 0 investors held positions by with 19,210,565 shares. The mentioned changes placed institutional holdings at 10,412,198 shares, according to the latest SEC report filing. RIDE stock had 55 new institutional investments in for a total of 10,093,306 shares, while 39 institutional investors sold positions of 17,586,628 shares during the same period.