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

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Romeo Power Inc. [NYSE: RMO] closed the trading session at $4.60 on 10/25/21. The day’s price range saw the stock hit a low of $4.53, while the highest price level was $4.74. The company report on October 5, 2021 that Romeo Power Signs Lease for 215,000 Square Foot State-of-the-Art Facility in Southern California.

New Cypress, CA Headquarters Location Will Support Company’s World-Class Testing and Manufacturing Capabilities to Meet Growing Demand.


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Romeo Power, Inc. (“Romeo Power”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, has leased a new Class A, state-of-the-art headquarters and manufacturing facility located in Cypress, California. The facility will support Romeo Power’s expansion of battery development and testing capabilities adjacent to its production line, allowing for faster innovation and time to market.

The stocks have a year to date performance of -79.55 percent and weekly performance of -2.75 percent. The stock has been moved at -48.83 percent over the last six months. The stock has performed -11.20 percent around the most recent 30 days and changed -30.62 percent over the most recent 3-months.

If compared to the average trading volume of 4.78M shares, RMO reached to a volume of 4120569 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $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 RMO stock is a recommendation set at 2.40. 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 0.26, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 329.96. The Price to Book ratio for the last quarter was 1.92, with the Price to Cash per share for the same quarter was set at 1.87.

RMO stock trade performance evaluation

Romeo Power Inc. [RMO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.75. With this latest performance, RMO shares dropped by -11.20% in over the last four-week period, additionally sinking by -48.83% over the last 6 months – not to mention a drop of -54.90% 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 42.01, with the RSI for the last a single of trading hit 39.80, and the three-weeks RSI is set at 42.27 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 4.88, while it was recorded at 4.76 for the last single week of trading, and 9.31 for the last 200 days.

Romeo Power Inc. [RMO]: An insightful look at the core fundamentals

Romeo Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.00 and a Current Ratio set at 11.30.

Romeo Power Inc. [RMO]: Insider Ownership positions

There are presently around $155 million, or 27.60% of RMO stock, in the hands of institutional investors. The top three institutional holders of RMO stocks are: VANGUARD GROUP INC with ownership of 7,672,983, which is approximately 2.291% of the company’s market cap and around 8.80% of the total institutional ownership; BNP PARIBAS ASSET MANAGEMENT HOLDING S.A., holding 5,632,184 shares of the stock with an approximate value of $25.91 million in RMO stocks shares; and INVESCO LTD., currently with $18.37 million in RMO stock with ownership of nearly 19.836% of the company’s market capitalization.

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78 institutional holders increased their position in Romeo Power Inc. [NYSE:RMO] by around 11,997,864 shares. Additionally, 44 investors decreased positions by around 2,863,040 shares, while 17 investors held positions by with 18,747,500 shares. The mentioned changes placed institutional holdings at 33,608,404 shares, according to the latest SEC report filing. RMO stock had 43 new institutional investments in for a total of 4,701,424 shares, while 30 institutional investors sold positions of 1,611,712 shares during the same period.

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