Lordstown Motors Corp. [NASDAQ: RIDE] jumped around 0.88 points on Monday, while shares priced at $13.40 at the close of the session, up 7.03%. The company report on June 5, 2021 that Lordstown Motors Corp. Announces It Has Received Notice of Delinquency for Late Filing.
Lordstown Motors Corp. (NASDAQ: RIDE) (“Lordstown” or the “Company”), announced that it received an expected notice (the “Notice”) from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) on May 28, 2021 stating that the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) because it has not yet filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 (the “Q1 2021 Form 10-Q”) with the Securities and Exchange Commission (the “SEC”). The Notice has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq Capital Market.
Under the Nasdaq Listing Rules, the Company has 60 calendar days from the date it received the Notice, or until July 27, 2021, to file the Q1 2021 Form 10-Q with the SEC or submit a plan to regain compliance with the Nasdaq Listing Rules.
Lordstown Motors Corp. stock is now -33.20% down from its year-to-date (YTD) trading value. RIDE Stock saw the intraday high of $13.89 and lowest of $12.36 per share. The company’s 52-week high price is 31.80, which means current price is +100.30% above from all time high which was touched on 02/11/21.
Compared to the average trading volume of 10.42M shares, RIDE reached a trading volume of 9703066 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]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIDE shares is $9.57 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIDE stock is a recommendation set at 3.00. 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.
Deutsche Bank have made an estimate for Lordstown Motors Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 28, 2021. While these analysts kept the previous recommendation, R. F. Lafferty raised their target price from $35 to $9. The new note on the price target was released on May 25, 2021, representing the official price target for Lordstown Motors Corp. stock. Previously, the target price had yet another drop from $18 to $1, while Wolfe Research kept a Underperform rating on RIDE stock. On April 22, 2021, analysts decreased their price target for RIDE shares from 21 to 10.
The Average True Range (ATR) for Lordstown Motors Corp. is set at 1.24 The Price to Book ratio for the last quarter was 3.04, with the Price to Cash per share for the same quarter was set at 3.40.
How has RIDE stock performed recently?
Lordstown Motors Corp. [RIDE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 35.35. With this latest performance, RIDE shares gained by 66.25% in over the last four-week period, additionally sinking by -41.71% over the last 6 months – not to mention a rise of 35.08% 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 64.95, with the RSI for the last a single of trading hit 70.39, and the three-weeks RSI is set at 59.54 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 10.16, while it was recorded at 12.35 for the last single week of trading, and 18.55 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 $497 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 $61.63 million in RIDE stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $48.2 million in RIDE stock with ownership of nearly 268.585% of the company’s market capitalization.
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 114 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 13,473,366 shares. Additionally, 66 investors decreased positions by around 15,569,829 shares, while 20 investors held positions by with 8,058,536 shares. The mentioned changes placed institutional holdings at 37,101,731 shares, according to the latest SEC report filing. RIDE stock had 68 new institutional investments in for a total of 6,238,457 shares, while 42 institutional investors sold positions of 7,737,088 shares during the same period.