Cowen slashes price target on Romeo Power Inc. [RMO] – find out why.

Romeo Power Inc. [NYSE: RMO] stock went on an upward path that rose over 1.19% on Friday, amounting to a one-week price increase of more than 8.58%. The company report on May 30, 2021 that RMO DEADLINE REMINDER: Kessler Topaz Meltzer & Check, LLP – Important June 15, 2021 Deadline Reminder for Romeo Power, Inc. Investors.

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The law firm of Kessler Topaz Meltzer & Check, LLP announces that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Romeo Power, Inc. (“Romeo”) (NYSE: RMO; RMO.WT) f/k/a RMG Acquisition Corp. (NYSE: RMG; RMG.U; RMG.WS) on behalf of those who purchased or acquired Romeo securities between October 5, 2020 and March 30, 2021, inclusive (the “Class Period”).

Lead Plaintiff Deadline: June 15, 2021.

Over the last 12 months, RMO stock dropped by -15.03%. The one-year Romeo Power Inc. stock forecast points to a potential upside of 28.14. The average equity rating for RMO stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.10 billion, with 128.79 million shares outstanding and 87.47 million shares in the current float. Compared to the average trading volume of 9.99M shares, RMO stock reached a trading volume of 7768314 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]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RMO shares is $11.80 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 2.20. 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 0.63, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 999.48. The Price to Book ratio for the last quarter was 3.33, with the Price to Cash per share for the same quarter was set at 2.22.

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 8.58. With this latest performance, RMO shares dropped by -4.40% in over the last four-week period, additionally sinking by -39.82% over the last 6 months – not to mention a drop of -15.03% 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 53.79, with the RSI for the last a single of trading hit 62.86, and the three-weeks RSI is set at 48.74 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 8.88, while it was recorded at 8.08 for the last single week of trading, and 12.95 for the last 200 days.

Insight into Romeo Power Inc. Fundamentals:

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 15.50 and a Current Ratio set at 15.80.

Romeo Power Inc. [RMO] Insider Position Details

There are presently around $208 million, or 19.70% of RMO stock, in the hands of institutional investors. The top three institutional holders of RMO stocks are: VANGUARD GROUP INC with ownership of 7,501,104, which is approximately New of the company’s market cap and around 24.40% of the total institutional ownership; BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., holding 4,742,441 shares of the stock with an approximate value of $40.22 million in RMO stocks shares; and INVESCO LTD., currently with $28.25 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 May and at the time of the May reporting period, where 78 institutional holders increased their position in Romeo Power Inc. [NYSE:RMO] by around 22,683,297 shares. Additionally, 35 investors decreased positions by around 9,011,731 shares, while 7 investors held positions by with 7,165,421 shares. The mentioned changes placed institutional holdings at 24,529,607 shares, according to the latest SEC report filing. RMO stock had 58 new institutional investments in for a total of 21,002,615 shares, while 24 institutional investors sold positions of 5,456,319 shares during the same period.

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