Romeo Power Inc. [RMO] Stock trading around $12.80 per share: What’s Next?

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Romeo Power Inc. [NYSE: RMO] stock went on an upward path that rose over 59.60% on Tuesday, amounting to a one-week price increase of more than 17.65%. The company report on April 6, 2021 that Romeo Power and PACCAR Enter Long-Term Supply Agreement for Peterbilt 579 and 520 Battery-Electric Vehicles.

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Romeo Power, Inc. (“Romeo Power”) (NYSE: RMO), an energy technology leader delivering large-scale electrification solutions for complex commercial applications, announced a long-term supply agreement with PACCAR (Nasdaq: PCAR), a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates, to provide battery packs, modules and battery management systems (BMS) for PACCAR’s battery electric vehicles (BEVs).

Under the agreement, Romeo Power will be a battery supplier for Peterbilt 579 and 520 BEVs in the United States and Canada through 2025. The start of production is anticipated to begin after 2021.

Over the last 12 months, RMO stock rose by 26.86%. The average equity rating for RMO stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.63 billion, with 126.79 million shares outstanding and 102.31 million shares in the current float. Compared to the average trading volume of 6.50M shares, RMO stock reached a trading volume of 202977870 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 1.47, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 181.93. The Price to Book ratio for the last quarter was 1.63, 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 17.65. With this latest performance, RMO shares gained by 32.23% in over the last four-week period, additionally plugging by 11.30% over the last 6 months – not to mention a rise of 26.86% 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 53.20, with the RSI for the last a single of trading hit 59.33, and the three-weeks RSI is set at 49.77 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 14.09, while it was recorded at 9.56 for the last single week of trading, and 13.34 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 $87 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 $8.8 million in RMO stocks shares; and ELECTRON CAPITAL PARTNERS, LLC, currently with $8.02 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 0 investors held positions by with 17,668,755 shares. The mentioned changes placed institutional holdings at 10,858,041 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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