Morgan Stanley slashes price target on Lordstown Motors Corp. [RIDE] – find out why.

Lordstown Motors Corp. [NASDAQ: RIDE] stock went on an upward path that rose over 5.40% on Tuesday, amounting to a one-week price increase of more than 7.54%. The company report on April 7, 2021 that FILING DEADLINE–Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of CYDY, RIDE, ROOT and VRM.

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The securities litigation law firm of Kuznicki Law PLLC issues this alert to shareholders of the following publicly traded companies.

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Lordstown Motors Corp. (RIDE) Class Period: August 20, 2020 and March 24, 2021Lead Plaintiff Motion Deadline: May 17, 2021SECURITIES FRAUD To learn more, visit https://kclasslaw.com/cases/securities/nasdaqgs-ride/.

Over the last 12 months, RIDE stock rose by 20.74%. The average equity rating for RIDE stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.10 billion, with 165.97 million shares outstanding and 99.48 million shares in the current float. Compared to the average trading volume of 10.41M shares, RIDE stock reached a trading volume of 7064493 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Lordstown Motors Corp. [RIDE]:

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 1.42 The Price to Book ratio for the last quarter was 2.77, with the Price to Cash per share for the same quarter was set at 3.65.

RIDE Stock Performance Analysis:

Lordstown Motors Corp. [RIDE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.54. With this latest performance, RIDE shares dropped by -27.28% in over the last four-week period, additionally sinking by -47.88% over the last 6 months – not to mention a rise of 20.74% 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 36.34, with the RSI for the last a single of trading hit 39.15, and the three-weeks RSI is set at 36.92 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 19.68, while it was recorded at 11.83 for the last single week of trading, and 18.81 for the last 200 days.

Insight into Lordstown Motors Corp. Fundamentals:

Lordstown Motors Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 19.20 and a Current Ratio set at 19.20.

Lordstown Motors Corp. [RIDE] Insider Position Details

There are presently around $490 million, or 23.00% 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 18.50% of the total institutional ownership; VANGUARD GROUP INC, holding 8,230,275 shares of the stock with an approximate value of $100.37 million in RIDE stocks shares; and INVESCO LTD., currently with $25.77 million in RIDE stock with ownership of nearly New of the company’s market capitalization.

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121 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 33,072,696 shares. Additionally, 19 investors decreased positions by around 3,036,151 shares, while 7 investors held positions by with 4,039,896 shares. The mentioned changes placed institutional holdings at 40,148,743 shares, according to the latest SEC report filing. RIDE stock had 85 new institutional investments in for a total of 19,647,446 shares, while 16 institutional investors sold positions of 592,893 shares during the same period.

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