Romeo Power Inc. [RMO] Stock trading around $8.99 per share: What’s Next?

Romeo Power Inc. [NYSE: RMO] loss -1.64% or -0.15 points to close at $8.99 with a heavy trading volume of 4300630 shares. The company report on April 28, 2021 that FILING DEADLINE–Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of CAN, CS, EBS and RMO.

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

Canaan Inc. (CAN)Class Period: February 10, 2021 and April 9, 2021Lead Plaintiff Motion Deadline: June 14, 2021SECURITIES FRAUDTo learn more, visit https://kclasslaw.com/cases/securities/nasdaqgm-can/.

It opened the trading session at $9.27, the shares rose to $9.30 and dropped to $8.78, the range by which the price of stock traded the whole day. The daily chart for RMO points out that the company has recorded -11.86% loss over the past six months. However, it is still -30.1% lower than its most recent low trading price.

If we look at the average trading volume of 11.04M shares, RMO reached to a volume of 4300630 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RMO shares is $13.94 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RMO 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.

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 1.04, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 126.27. The Price to Book ratio for the last quarter was 3.57, with the Price to Cash per share for the same quarter was set at 2.31.

Trading performance analysis for RMO stock

Romeo Power Inc. [RMO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.69. With this latest performance, RMO shares dropped by -21.76% in over the last four-week period, additionally sinking by -11.86% over the last 6 months – not to mention a drop of -7.03% 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 45.23, with the RSI for the last a single of trading hit 49.14, and the three-weeks RSI is set at 43.66 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 11.21, while it was recorded at 8.55 for the last single week of trading, and 13.24 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Romeo Power Inc. [RMO] shares currently have an operating margin of -382.48 and a Gross Margin at -100.19. Romeo Power Inc.’s Net Margin is presently recorded at -84.88.

Return on Total Capital for RMO is now -15.96, given the latest momentum, and Return on Invested Capital for the company is -3.57. Return on Equity for this stock declined to -3.62, with Return on Assets sitting at -2.58. When it comes to the capital structure of this company, Romeo Power Inc. [RMO] has a Total Debt to Total Equity ratio set at 4.56. Additionally, RMO Total Debt to Total Capital is recorded at 4.36, with Total Debt to Total Assets ending up at 2.50. Long-Term Debt to Equity for the company is recorded at 2.97, with the Long-Term Debt to Total Capital now at 2.84.

Receivables Turnover for the company is 2.62 with a Total Asset Turnover recorded at a value of 0.03.Romeo Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 18.70 and a Current Ratio set at 19.00.

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

There are presently around $98 million, or 18.90% 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 24.50% of the total institutional ownership; ALYESKA INVESTMENT GROUP, L.P., holding 1,097,075 shares of the stock with an approximate value of $9.86 million in RMO stocks shares; and ELECTRON CAPITAL PARTNERS, LLC, currently with $8.99 million in RMO stock with ownership of nearly New of the company’s market capitalization.

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Positions in Romeo Power Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 48 institutional holders increased their position in Romeo Power Inc. [NYSE:RMO] by around 9,277,933 shares. Additionally, 51 investors decreased positions by around 18,920,422 shares, while 4 investors held positions by with 17,301,784 shares. The mentioned changes placed institutional holdings at 10,896,571 shares, according to the latest SEC report filing. RMO stock had 45 new institutional investments in for a total of 9,079,474 shares, while 39 institutional investors sold positions of 17,049,768 shares during the same period.

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