Market cap of Lordstown Motors Corp. [RIDE] reaches 4.74B – now what?

Lordstown Motors Corp. [NASDAQ: RIDE] closed the trading session at $27.11 on 01/11/21. The day’s price range saw the stock hit a low of $21.75, while the highest price level was $28.70. The company report on January 11, 2021 that Lordstown Motors Surpasses 100,000 Pre-Orders for the Lordstown Endurance, First Full-Size, All-Electric Pickup Truck for Fleets.

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Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors”), an emerging OEM producing electric light duty trucks focused on the commercial fleet market, has received more than 100,000 non-binding production reservations from commercial fleets for its Lordstown Endurance™ all-electric pickup truck, with an average order size of nearly 600 vehicles per fleet.

“Receiving 100,000 pre-orders from commercial fleets for a truck like the Endurance is unprecedented in automotive history,” said Steve Burns, CEO of Lordstown Motors. “Adding in the interest we have from federal, state, municipal and military fleets on top of that, I think you can see why we feel that we are about to revolutionize the pickup truck industry.”.

The stocks have a year to date performance of 35.14 percent and weekly performance of 33.02 percent. The stock has been moved at 160.67 percent over the last six months. The stock has performed 41.20 percent around the most recent 30 days and changed 16.85 percent over the most recent 3-months.

If compared to the average trading volume of 7.42M shares, RIDE reached to a volume of 40487627 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Lordstown Motors Corp. [RIDE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIDE shares is $32.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIDE stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

R. F. Lafferty have made an estimate for Lordstown Motors Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 22, 2020. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on December 11, 2020, representing the official price target for Lordstown Motors Corp. stock. Previously, the target price had yet another raise to $14, while Wolfe Research analysts kept a Underperform rating on RIDE stock.

The Average True Range (ATR) for Lordstown Motors Corp. is set at 2.25 The Price to Book ratio for the last quarter was 3.48, with the Price to Cash per share for the same quarter was set at 0.00.

RIDE stock trade performance evaluation

Lordstown Motors Corp. [RIDE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 33.02. With this latest performance, RIDE shares gained by 41.20% in over the last four-week period, additionally plugging by 160.67% over the last 6 months – not to mention a rise of 178.91% in the past year of trading.

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 66.08, with the RSI for the last a single of trading hit 72.68, and the three-weeks RSI is set at 61.67 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 20.93, while it was recorded at 22.90 for the last single week of trading, and 15.80 for the last 200 days.

Lordstown Motors Corp. [RIDE]: An insightful look at the core 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.

Lordstown Motors Corp. [RIDE]: Insider Ownership positions

There are presently around $275 million, or 6.50% 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 19.90% of the total institutional ownership; DAVIDSON KEMPNER CAPITAL MANAGEMENT LP, holding 1,500,000 shares of the stock with an approximate value of $40.66 million in RIDE stocks shares; and HOLOCENE ADVISORS, LP, currently with $33.84 million in RIDE stock with ownership of nearly New of the company’s market capitalization.

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58 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 9,885,550 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 10,132,253 shares, according to the latest SEC report filing. RIDE stock had 55 new institutional investments in for a total of 9,813,361 shares, while 39 institutional investors sold positions of 17,586,628 shares during the same period.

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