Romeo Power Inc. [RMO] Revenue clocked in at $7.46 million, down -9.96% YTD: What’s Next?

Romeo Power Inc. [NYSE: RMO] price surged by 9.52 percent to reach at $1.76. The company report on January 4, 2021 that Heritage Environmental Services and Romeo Power Launch Commercial Fleet Electrification Program.

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Romeo Power to Electrify 500 Heritage Environmental Services Trucks with US Ecology to Participate as Program Observer.

Heritage Environmental Services, Inc. (“HES”), a leader in environmental and recycling services, and Romeo Power, Inc. (“Romeo Power”) (NYSE: RMO), an energy technology leader delivering large-scale electrification solutions for complex commercial applications, announced that they have launched a program to select fleet electrification partners to execute on HES’s fleet electrification strategy. HES and Romeo Power intend to select leading edge commercial Battery Electric Vehicle (BEV) value chain participants such as Original Equipment Manufacturers (OEMs), integrators and ePowertrain providers, to participate in the program. The goal is to enter into long-term production partnerships with program participants that deliver the best solution for Heritage’s requirements. All participants will be required to utilize Romeo Power’s energy technology and battery management system in their vehicle offerings.

A sum of 8873027 shares traded at recent session while its average daily volume was at 4.56M shares. Romeo Power Inc. shares reached a high of $20.86 and dropped to a low of $19.14 until finishing in the latest session at $20.25.

Guru’s Opinion on Romeo Power Inc. [RMO]:

The Average True Range (ATR) for Romeo Power Inc. is set at 2.71, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 353.92. The Price to Book ratio for the last quarter was 2.58, with the Price to Cash per share for the same quarter was set at 0.00.

RMO Stock Performance Analysis:

Romeo Power Inc. [RMO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.13. With this latest performance, RMO shares dropped by -29.20% in over the last four-week period, additionally plugging by 97.37% over the last 6 months – not to mention a rise of 104.75% 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 RMO stock in for the last two-week period is set at 49.05, with the RSI for the last a single of trading hit 47.65, and the three-weeks RSI is set at 50.80 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 18.99, while it was recorded at 19.57 for the last single week of trading, and 12.41 for the last 200 days.

Insight into Romeo Power Inc. Fundamentals:

Romeo Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.30.

Romeo Power Inc. [RMO] Insider Position Details

There are presently around $432 million, or 21.00% of RMO stock, in the hands of institutional investors. The top three institutional holders of RMO stocks are: GLAZER CAPITAL, LLC with ownership of 2,473,429, which is approximately -6.603% of the company’s market cap and around 25.20% of the total institutional ownership; BLACKROCK INC., holding 1,686,667 shares of the stock with an approximate value of $34.16 million in RMO stocks shares; and PERISCOPE CAPITAL INC., currently with $28.29 million in RMO stock with ownership of nearly 2.743% of the company’s market capitalization.

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26 institutional holders increased their position in Romeo Power Inc. [NYSE:RMO] by around 5,712,137 shares. Additionally, 24 investors decreased positions by around 3,904,096 shares, while 10 investors held positions by with 11,729,735 shares. The mentioned changes placed institutional holdings at 21,345,968 shares, according to the latest SEC report filing. RMO stock had 15 new institutional investments in for a total of 3,628,474 shares, while 7 institutional investors sold positions of 534,680 shares during the same period.

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