Lordstown Motors Corp. [NASDAQ: RIDE] surged by $0.21 during the normal trading session. The company report on February 17, 2021 that Lordstown Motors To Race Endurance Electric Pickup Truck Skateboard in San Felipe 250 Race in Baja California on April 17.
Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light duty trucks focused on the commercial fleet market, has entered the Endurance Beta skateboard in the 2021 SCORE International San Felipe 250, part of the SCORE World Desert Championship race series. The 290-mile single loop race will start and finish in San Felipe, Baja California, Mexico on April 17, 2021.
By taking the Endurance to the Mexican desert race course, which is considered one of the most grueling and punishing in the world, Lordstown Motors is setting out to prove that the Endurance is not only one of the safest, most efficient trucks on the planet, but also that it is the toughest, most robust as it tackles the San Felipe Desert.
Lordstown Motors Corp. stock has also loss -19.48% of its value over the past 7 days. However, RIDE stock has inclined by 0.24% in the 3 months of the year. Over the past six months meanwhile, it has gained 71.94% and gained 23.43% year-on date.
The market cap for RIDE stock reached $4.05 billion, with 164.95 million shares outstanding and 99.48 million shares in the current float. Compared to the average trading volume of 9.58M shares, RIDE reached a trading volume of 5584460 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 $32.20 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 2.40. 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.
Morgan Stanley have made an estimate for Lordstown Motors Corp. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on February 12, 2021. While these analysts kept the previous recommendation, Wolfe Research raised their target price from $14 to $27. The new note on the price target was released on January 29, 2021, representing the official price target for Lordstown Motors Corp. stock. Previously, the target price had yet another raise to $35, while R. F. Lafferty analysts kept a Buy rating on RIDE stock.
The Average True Range (ATR) for Lordstown Motors Corp. is set at 2.46 The Price to Book ratio for the last quarter was 3.18, 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] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.48. With this latest performance, RIDE shares gained by 6.40% in over the last four-week period, additionally plugging by 71.94% over the last 6 months – not to mention a rise of 149.37% 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 47.35, with the RSI for the last a single of trading hit 42.62, and the three-weeks RSI is set at 49.75 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 23.45, while it was recorded at 25.21 for the last single week of trading, and 17.93 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 $961 million, or 21.30% of RIDE stock, in the hands of institutional investors. The top three institutional holders of RIDE stocks are: FMR LLC with ownership of 10,433,286, which is approximately 3710.55% of the company’s market cap and around 19.80% of the total institutional ownership; VANGUARD GROUP INC, holding 8,230,275 shares of the stock with an approximate value of $203.78 million in RIDE stocks shares; and INVESCO LTD., currently with $52.33 million in RIDE stock with ownership of nearly New of the company’s market capitalization.
118 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 31,789,824 shares. Additionally, 19 investors decreased positions by around 3,036,151 shares, while 7 investors held positions by with 3,999,896 shares. The mentioned changes placed institutional holdings at 38,825,871 shares, according to the latest SEC report filing. RIDE stock had 83 new institutional investments in for a total of 18,464,574 shares, while 16 institutional investors sold positions of 592,893 shares during the same period.