Morgan Stanley slashes price target on Romeo Power Inc. [RMO] – find out why.

Romeo Power Inc. [NYSE: RMO] loss -6.90% on the last trading session, reaching $14.31 price per share at the time. The company report on February 17, 2021 that Romeo Power Announces Redemption of Public Warrants.

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Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering large-scale electrification solutions for complex commercial applications, announced that it will redeem all of the outstanding public warrants to purchase shares of its common stock, $0.0001 par value per share (“Common Stock”), that were issued under the Warrant Agreement, dated February 7, 2019 (the “Warrant Agreement”), by and between Romeo Power (formerly known as RMG Acquisition Corp.) and American Stock Transfer & Trust Company, LLC, as warrant agent, and that remain outstanding following 5:00 p.m. New York City time on March 18, 2021 (the “Redemption Date”), for a redemption price of $0.01 per warrant. Warrants that were issued under the Warrant Agreement in a private placement and are still held by the initial holders thereof or their permitted transferees are not subject to this redemption.

Under the terms of the Warrant Agreement, Romeo Power is entitled to redeem all of such outstanding public warrants if the last sales price of the Common Stock is at least $18.00 per share on each of twenty trading days within a thirty trading day period. This share price performance requirement has been satisfied and American Stock Transfer & Trust Company, LLC, in its capacity as warrant agent, has delivered a notice of redemption to each of the registered holders of the outstanding public warrants on behalf of Romeo Power.

Romeo Power Inc. represents 28.75 million in outstanding shares, while the company has a total market value of $1.92 billion with the latest information. RMO stock price has been found in the range of $14.22 to $15.28.

If compared to the average trading volume of 6.16M shares, RMO reached a trading volume of 6534471 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Romeo Power Inc. [RMO]:

Morgan Stanley have made an estimate for Romeo Power Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on February 12, 2021.

The Average True Range (ATR) for Romeo Power Inc. is set at 1.37, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 257.24. The Price to Book ratio for the last quarter was 1.82, with the Price to Cash per share for the same quarter was set at 0.00.

Trading performance analysis for RMO stock

Romeo Power Inc. [RMO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.11. With this latest performance, RMO shares dropped by -30.84% in over the last four-week period, additionally plugging by 40.02% over the last 6 months – not to mention a rise of 43.96% 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 31.53, with the RSI for the last a single of trading hit 21.44, and the three-weeks RSI is set at 37.98 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 20.49, while it was recorded at 16.03 for the last single week of trading, and 13.03 for the last 200 days.

Romeo Power Inc. [RMO]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Romeo Power Inc. [RMO]

There are presently around $176 million, or 13.30% of RMO stock, in the hands of institutional investors. The top three institutional holders of RMO stocks are: LUXOR CAPITAL GROUP, LP with ownership of 2,000,000, which is approximately New of the company’s market cap and around 25.20% of the total institutional ownership; ALYESKA INVESTMENT GROUP, L.P., holding 1,097,075 shares of the stock with an approximate value of $15.7 million in RMO stocks shares; and ELECTRON CAPITAL PARTNERS, LLC, currently with $14.31 million in RMO stock with ownership of nearly New of the company’s market capitalization.

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52 institutional holders increased their position in Romeo Power Inc. [NYSE:RMO] by around 9,647,315 shares. Additionally, 48 investors decreased positions by around 18,629,481 shares, while 1 investors held positions by with 15,997,157 shares. The mentioned changes placed institutional holdings at 12,279,639 shares, according to the latest SEC report filing. RMO stock had 49 new institutional investments in for a total of 9,191,277 shares, while 37 institutional investors sold positions of 16,578,121 shares during the same period.

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