Cowen lifts Romeo Power Inc. [RMO] price estimate. Who else is bullish?

Romeo Power Inc. [NYSE: RMO] gained 6.28% or 0.61 points to close at $10.32 with a heavy trading volume of 7588116 shares. The company report on June 9, 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 $10.11, the shares rose to $10.56 and dropped to $9.76, the range by which the price of stock traded the whole day. The daily chart for RMO points out that the company has recorded -43.73% loss over the past six months. However, it is still -63.03% lower than its most recent low trading price.

If we look at the average trading volume of 9.85M shares, RMO reached to a volume of 7588116 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 $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 0.72, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 1285.97. The Price to Book ratio for the last quarter was 4.05, with the Price to Cash per share for the same quarter was set at 2.10.

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 19.58. With this latest performance, RMO shares gained by 33.68% in over the last four-week period, additionally sinking by -43.73% over the last 6 months – not to mention a rise of 3.42% 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 67.30, with the RSI for the last a single of trading hit 76.75, and the three-weeks RSI is set at 59.23 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 8.55, while it was recorded at 9.58 for the last single week of trading, and 12.93 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 15.50 and a Current Ratio set at 15.80.

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

There are presently around $253 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 $48.94 million in RMO stocks shares; and INVESCO LTD., currently with $34.38 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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