Lordstown Motors Corp. [NASDAQ: RIDE] traded at a high on 12/15/20, posting a 9.00 gain after which it closed the day’ session at $20.71. The company report on December 5, 2020 that Lordstown Motors Corp. Announces S-1 Registration Statement Declared Effective.
Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light duty trucks focused on the commercial fleet market, announced that the United States Securities and Exchange Commission (the “SEC”) has declared Lordstown’s registration statement on Form S-1 (File No. 333-250045) (the “Registration Statement”) effective as of ’s date. The Registration Statement registered 152,999,357 shares of Lordstown’s Class A common stock, which includes (a) 143,66,024 shares of Class A common stock registered for sale by the selling security holders named in the Registration Statement, (b) an aggregate of 5,066,667 shares of Class A common stock issuable upon the exercise of private placement warrants, and (c) 9,333,333 shares of Class A common stock issuable upon the exercise of public warrants. The Registration Statement also registered the resale of the private placement warrants.
While the Registration Statement is effective, the warrants may be exercised for cash. Lordstown will receive the proceeds from any cash exercise of any warrants, but will not receive any proceeds from the sale by the selling security holders of any shares of Class A common stock or private placement warrants under the Registration Statement.
The results of the trading session contributed to over 11113203 shares changing hands. Over the past one week, the price volatility of Lordstown Motors Corp. stands at 8.51% while the volatility over the past one month is 10.85%.
The market cap for RIDE stock reached $3.17 billion, with 164.95 million shares outstanding and 99.21 million shares in the current float. Compared to the average trading volume of 5.47M shares, RIDE reached a trading volume of 11113203 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]?
Goldman have made an estimate for Lordstown Motors Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 11, 2020. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Underperform. The new note on the price target was released on December 10, 2020, representing the official price target for Lordstown Motors Corp. stock. Previously, the target price had yet another raise to $15, while Vertical Research analysts kept a Sell rating on RIDE stock.
The Average True Range (ATR) for Lordstown Motors Corp. is set at 2.34 The Price to Book ratio for the last quarter was 2.66, 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 6.92. With this latest performance, RIDE shares gained by 15.70% in over the last four-week period, additionally plugging by 105.46% 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 48.10, with the RSI for the last a single of trading hit 47.59, and the three-weeks RSI is set at 48.93 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 20.88, while it was recorded at 19.33 for the last single week of trading, and 14.85 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 $192 million, or 6.20% 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 $31.07 million in RIDE stocks shares; and HOLOCENE ADVISORS, LP, currently with $25.85 million in RIDE stock with ownership of nearly New of the company’s market capitalization.
57 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 9,865,495 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 10,112,198 shares, according to the latest SEC report filing. RIDE stock had 54 new institutional investments in for a total of 9,793,306 shares, while 39 institutional investors sold positions of 17,586,628 shares during the same period.