Romeo Power Inc. [RMO] Revenue clocked in at $7.46 million, down -40.02% YTD: What’s Next?

Romeo Power Inc. [NYSE: RMO] price surged by 2.90 percent to reach at $0.38. The company report on March 11, 2021 that Romeo Power Announces Extension of Redemption Date to the Holders 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 has extended the period during which its public warrants may be exercised by the holders of such warrants to 5:00 p.m. New York City time on April 5, 2021.

On February 16, 2021, the Company announced it would 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 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 the redemption.

A sum of 5333098 shares traded at recent session while its average daily volume was at 6.68M shares. Romeo Power Inc. shares reached a high of $13.65 and dropped to a low of $12.52 until finishing in the latest session at $13.49.

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

Cowen have made an estimate for Romeo Power Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 09, 2021. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Underweight. The new note on the price target was released on February 12, 2021, representing the official price target for Romeo Power Inc. stock.

The Average True Range (ATR) for Romeo Power Inc. is set at 1.29, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 224.03. The Price to Book ratio for the last quarter was 1.72, with the Price to Cash per share for the same quarter was set at 0.00.

RMO Stock Performance Analysis:

Romeo Power Inc. [RMO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.30. With this latest performance, RMO shares dropped by -15.74% in over the last four-week period, additionally plugging by 30.34% over the last 6 months – not to mention a rise of 34.36% 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 47.81, with the RSI for the last a single of trading hit 53.02, and the three-weeks RSI is set at 45.95 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 16.55, while it was recorded at 13.59 for the last single week of trading, and 13.27 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 $158 million, or 9.20% 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 $14.8 million in RMO stocks shares; and ELECTRON CAPITAL PARTNERS, LLC, currently with $13.49 million in RMO stock with ownership of nearly New of the company’s market capitalization.

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51 institutional holders increased their position in Romeo Power Inc. [NYSE:RMO] by around 9,325,817 shares. Additionally, 49 investors decreased positions by around 19,200,979 shares, while 1 investors held positions by with 16,818,655 shares. The mentioned changes placed institutional holdings at 11,708,141 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 38 institutional investors sold positions of 17,149,619 shares during the same period.

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