Lordstown Motors Corp. [NASDAQ: RIDE] loss -0.78% on the last trading session, reaching $6.40 price per share at the time. The company report on August 26, 2021 that Lordstown Motors Appoints Daniel A. Ninivaggi as Chief Executive Officer.
Ohio Automaker Appoints New CEO as it Moves Closer to Production of the All-Electric Light-duty Endurance Pickup Truck.
Lordstown Motors Corporation (Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light-duty trucks focused on the commercial fleet market, announced that its Board of Directors has appointed Daniel A. Ninivaggi as CEO and as a member of the Board, effective immediately.
Lordstown Motors Corp. represents 176.59 million in outstanding shares, while the company has a total market value of $1.16 billion with the latest information. RIDE stock price has been found in the range of $6.26 to $6.59.
If compared to the average trading volume of 11.54M shares, RIDE reached a trading volume of 5330505 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 $6.86 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 0.47 The Price to Book ratio for the last quarter was 1.89, with the Price to Cash per share for the same quarter was set at 2.02.
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 0.00. With this latest performance, RIDE shares gained by 19.18% in over the last four-week period, additionally sinking by -57.95% over the last 6 months – not to mention a drop of -77.14% 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 50.81, with the RSI for the last a single of trading hit 54.97, and the three-weeks RSI is set at 47.36 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 6.75, while it was recorded at 6.30 for the last single week of trading, and 13.94 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 4.70 and a Current Ratio set at 4.70.
An analysis of insider ownership at Lordstown Motors Corp. [RIDE]
There are presently around $333 million, or 29.90% of RIDE stock, in the hands of institutional investors. The top three institutional holders of RIDE stocks are: VANGUARD GROUP INC with ownership of 10,073,725, which is approximately 20.008% of the company’s market cap and around 36.99% of the total institutional ownership; BLACKROCK INC., holding 8,289,975 shares of the stock with an approximate value of $53.06 million in RIDE stocks shares; and FMR LLC, currently with $29.11 million in RIDE stock with ownership of nearly -1.098% of the company’s market capitalization.
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 99 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 22,768,332 shares. Additionally, 85 investors decreased positions by around 6,877,508 shares, while 27 investors held positions by with 22,374,578 shares. The mentioned changes placed institutional holdings at 52,020,418 shares, according to the latest SEC report filing. RIDE stock had 52 new institutional investments in for a total of 4,931,835 shares, while 54 institutional investors sold positions of 3,567,997 shares during the same period.