Market Analysts see Lordstown Motors Corp. [RIDE] falling to $1. Time to buy?

Lordstown Motors Corp. [NASDAQ: RIDE] surged by $0.09 during the normal trading session on Monday and reaching a high of $9.9698 during the day while it closed the day at $9.67. The company report on May 25, 2021 that Lordstown Motors Reports First Quarter 2021 Financial Results.

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Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light duty trucks focused on the commercial fleet market, released its first quarter 2021 financial results and provided a business outlook.

Key Business Highlights.

Lordstown Motors Corp. stock has also gained 15.12% of its value over the past 7 days. However, RIDE stock has declined by -50.89% in the 3 months of the year. Over the past six months meanwhile, it has lost -61.99% and lost -51.79% year-on date.

The market cap for RIDE stock reached $1.73 billion, with 165.97 million shares outstanding and 111.08 million shares in the current float. Compared to the average trading volume of 9.83M shares, RIDE reached a trading volume of 8730514 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Lordstown Motors Corp. [RIDE]:

Wolfe Research have made an estimate for Lordstown Motors Corp. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 20, 2021. While these analysts kept the previous recommendation, Goldman dropped their target price from $21 to $10. The new note on the price target was released on April 22, 2021, representing the official price target for Lordstown Motors Corp. stock. Previously, the target price had yet another raise to $13, while BofA Securities analysts kept a Neutral rating on RIDE stock.

The Average True Range (ATR) for Lordstown Motors Corp. is set at 1.05 The Price to Book ratio for the last quarter was 2.19, with the Price to Cash per share for the same quarter was set at 3.52.

RIDE stock trade performance evaluation

Lordstown Motors Corp. [RIDE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.12. With this latest performance, RIDE shares dropped by -2.72% in over the last four-week period, additionally sinking by -61.99% over the last 6 months – not to mention a drop of -3.69% 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 50.15, with the RSI for the last a single of trading hit 54.29, and the three-weeks RSI is set at 46.42 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 10.60, while it was recorded at 10.10 for the last single week of trading, and 18.63 for the last 200 days.

Lordstown Motors Corp. [RIDE]: An insightful look at the core 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.

Lordstown Motors Corp. [RIDE]: Insider Ownership positions

There are presently around $359 million, or 22.50% of RIDE stock, in the hands of institutional investors. The top three institutional holders of RIDE stocks are: VANGUARD GROUP INC with ownership of 8,394,237, which is approximately 1.992% of the company’s market cap and around 0.10% of the total institutional ownership; FMR LLC, holding 4,599,010 shares of the stock with an approximate value of $44.47 million in RIDE stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $34.78 million in RIDE stock with ownership of nearly 268.585% 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 113 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 13,472,366 shares. Additionally, 66 investors decreased positions by around 15,569,829 shares, while 19 investors held positions by with 8,035,986 shares. The mentioned changes placed institutional holdings at 37,078,181 shares, according to the latest SEC report filing. RIDE stock had 67 new institutional investments in for a total of 6,237,457 shares, while 42 institutional investors sold positions of 7,737,088 shares during the same period.

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