Market Analysts see Lordstown Motors Corp. [RIDE] falling to $3. Time to buy?

Lordstown Motors Corp. [NASDAQ: RIDE] loss -6.75% on the last trading session, reaching $5.94 price per share at the time. The company report on July 28, 2021 that Lordstown Motors Announces Timing of Second Quarter 2021 Financial Results and Webcast.

Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light duty trucks focused on the commercial fleet market, announced that it will release its second quarter 2021 financial results after market close on August 11, 2021. The company will then host a conference call at 4:30 p.m. Eastern Time.

The call can be accessed via a live webcast accessible on the Events page of Lordstown Motors’ Investor Relations website at https://investor.lordstownmotors.com/. An archive of the webcast will be available shortly after the call.

Lordstown Motors Corp. represents 174.32 million in outstanding shares, while the company has a total market value of $1.04 billion with the latest information. RIDE stock price has been found in the range of $5.83 to $6.3905.

If compared to the average trading volume of 12.02M shares, RIDE reached a trading volume of 11026393 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 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 $8.14 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 3.30. 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.

R. F. Lafferty have made an estimate for Lordstown Motors Corp. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on June 14, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Underperform. The new note on the price target was released on June 09, 2021, representing the official price target for Lordstown Motors Corp. stock. Previously, the target price had yet another raise to $8, while Deutsche Bank analysts kept a Hold rating on RIDE stock. On May 25, 2021, analysts decreased their price target for RIDE shares from 35 to 9.

The Average True Range (ATR) for Lordstown Motors Corp. is set at 0.64 The Price to Book ratio for the last quarter was 1.47, with the Price to Cash per share for the same quarter was set at 3.35.

Trading performance analysis for RIDE stock

Lordstown Motors Corp. [RIDE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.86. With this latest performance, RIDE shares dropped by -35.64% in over the last four-week period, additionally sinking by -76.01% over the last 6 months – not to mention a drop of -52.06% 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 28.57, with the RSI for the last a single of trading hit 21.41, and the three-weeks RSI is set at 33.82 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 9.57, while it was recorded at 6.26 for the last single week of trading, and 15.97 for the last 200 days.

Lordstown Motors Corp. [RIDE]: A deeper dive into fundamental analysis

Return on Total Capital for RIDE is now -22.61, given the latest momentum, and Return on Invested Capital for the company is -27.37. Return on Equity for this stock declined to -27.40, with Return on Assets sitting at -23.58. When it comes to the capital structure of this company, Lordstown Motors Corp. [RIDE] has a Total Debt to Total Equity ratio set at 0.16. Additionally, RIDE Total Debt to Total Capital is recorded at 0.16, with Total Debt to Total Assets ending up at 0.13. Long-Term Debt to Equity for the company is recorded at 0.16, with the Long-Term Debt to Total Capital now at 0.16.

Reflecting on the efficiency of the workforce at the company, Lordstown Motors Corp. [RIDE] managed to generate an average of -$387,656 per employee.Lordstown Motors Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.10 and a Current Ratio set at 9.10.

An analysis of insider ownership at Lordstown Motors Corp. [RIDE]

There are presently around $225 million, or 22.20% 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 $27.32 million in RIDE stocks shares; and SUSQUEHANNA INTERNATIONAL GROUP, LLP, currently with $21.36 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 August and at the time of the August reporting period, where 104 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 13,256,578 shares. Additionally, 74 investors decreased positions by around 15,415,530 shares, while 22 investors held positions by with 9,169,759 shares. The mentioned changes placed institutional holdings at 37,841,867 shares, according to the latest SEC report filing. RIDE stock had 63 new institutional investments in for a total of 6,484,224 shares, while 46 institutional investors sold positions of 7,569,929 shares during the same period.

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