Goldman lifts Lordstown Motors Corp. [RIDE] price estimate. Who else is bullish?

Lordstown Motors Corp. [NASDAQ: RIDE] traded at a low on 05/10/21, posting a -7.76 loss after which it closed the day’ session at $7.37. The company report on May 11, 2021 that RIDE LAWSUIT: The Law Offices of Vincent Wong Notify Investors of a Class Action Lawsuit Involving Lordstown Motors Corp.

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New York, New York–(Newsfile Corp. – May 10, 2021) – The Law Offices of Vincent Wong announce that a class action lawsuit has commenced in the on behalf of investors who purchased Lordstown Motors Corp (“Lordstown Motors”) (NASDAQ: RIDE) between August 3, 2020 and March 24, 2021.

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The results of the trading session contributed to over 7901081 shares changing hands. Over the past one week, the price volatility of Lordstown Motors Corp. stands at 7.63% while the volatility over the past one month is 7.33%.

The market cap for RIDE stock reached $1.31 billion, with 165.97 million shares outstanding and 99.48 million shares in the current float. Compared to the average trading volume of 8.71M shares, RIDE reached a trading volume of 7901081 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Lordstown Motors Corp. [RIDE]?

Goldman have made an estimate for Lordstown Motors Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 22, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price to Neutral. The new note on the price target was released on April 20, 2021, representing the official price target for Lordstown Motors Corp. stock. Previously, the target price had yet another raise to $18, while Morgan Stanley analysts kept a Underweight rating on RIDE stock. On January 29, 2021, analysts increased their price target for RIDE shares from 14 to 27.

The Average True Range (ATR) for Lordstown Motors Corp. is set at 0.72 The Price to Book ratio for the last quarter was 1.67, with the Price to Cash per share for the same quarter was set at 3.54.

How has RIDE stock performed recently?

Lordstown Motors Corp. [RIDE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.07. With this latest performance, RIDE shares dropped by -37.12% in over the last four-week period, additionally sinking by -59.28% over the last 6 months – not to mention a drop of -25.18% 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 24.00, with the RSI for the last a single of trading hit 17.26, and the three-weeks RSI is set at 28.58 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 12.39, while it was recorded at 8.18 for the last single week of trading, and 18.76 for the last 200 days.

Lordstown Motors Corp. [RIDE]: Deeper insight into the fundamentals

Return on Total Capital for RIDE is now -20.34, given the latest momentum, and Return on Invested Capital for the company is -19.95. Return on Equity for this stock declined to -19.97, with Return on Assets sitting at -19.12. When it comes to the capital structure of this company, Lordstown Motors Corp. [RIDE] has a Total Debt to Total Equity ratio set at 0.14. Additionally, RIDE Total Debt to Total Capital is recorded at 0.14, with Total Debt to Total Assets ending up at 0.13. Long-Term Debt to Equity for the company is recorded at 0.14, with the Long-Term Debt to Total Capital now at 0.14.

Reflecting on the efficiency of the workforce at the company, Lordstown Motors Corp. [RIDE] managed to generate an average of -$314,241 per employee.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.

Insider trade positions for Lordstown Motors Corp. [RIDE]

There are presently around $321 million, or 24.10% 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 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 8,230,275 shares of the stock with an approximate value of $65.76 million in RIDE stocks shares; and INVESCO LTD., currently with $16.89 million in RIDE stock with ownership of nearly New of the company’s market capitalization.

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Positions in Lordstown Motors Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 121 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 32,817,295 shares. Additionally, 30 investors decreased positions by around 1,142,203 shares, while 13 investors held positions by with 6,172,158 shares. The mentioned changes placed institutional holdings at 40,131,656 shares, according to the latest SEC report filing. RIDE stock had 77 new institutional investments in for a total of 19,219,707 shares, while 24 institutional investors sold positions of 994,783 shares during the same period.

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