Lordstown Motors Corp. [NASDAQ: RIDE] price plunged by -6.25 percent to reach at -$0.15.
A sum of 4907739 shares traded at recent session while its average daily volume was at 6.72M shares. Lordstown Motors Corp. shares reached a high of $2.395 and dropped to a low of $2.18 until finishing in the latest session at $2.25.
The one-year RIDE stock forecast points to a potential upside of 35.71. The average equity rating for RIDE stock is currently 3.70, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $3.50 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 3.70. 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 Hold, with their previous recommendation back on November 12, 2021. The new note on the price target was released on November 12, 2021, representing the official price target for Lordstown Motors Corp. stock. Previously, the target price had yet another drop from $8 to $2, while Morgan Stanley kept a Underweight rating on RIDE stock.
The Average True Range (ATR) for Lordstown Motors Corp. is set at 0.24 The Price to Book ratio for the last quarter was 0.81, with the Price to Cash per share for the same quarter was set at 1.23.
RIDE Stock Performance Analysis:
Lordstown Motors Corp. [RIDE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.79. With this latest performance, RIDE shares dropped by -27.88% in over the last four-week period, additionally sinking by -55.18% over the last 6 months – not to mention a drop of -78.55% 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 36.92, with the RSI for the last a single of trading hit 31.87, and the three-weeks RSI is set at 40.11 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 2.79, while it was recorded at 2.30 for the last single week of trading, and 4.57 for the last 200 days.
Insight into Lordstown Motors Corp. Fundamentals:
Return on Equity for this stock declined to -70.13, with Return on Assets sitting at -56.37.
Lordstown Motors Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.00 and a Current Ratio set at 2.00.
Lordstown Motors Corp. [RIDE] Insider Position Details
There are presently around $134 million, or 29.10% of RIDE stock, in the hands of institutional investors. The top three institutional holders of RIDE stocks are: VANGUARD GROUP INC with ownership of 11,264,704, which is approximately 15.077% of the company’s market cap and around 18.10% of the total institutional ownership; BLACKROCK INC., holding 9,562,205 shares of the stock with an approximate value of $22.95 million in RIDE stocks shares; and INVESCO LTD., currently with $14.15 million in RIDE stock with ownership of nearly 35.442% 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 88 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 12,696,258 shares. Additionally, 78 investors decreased positions by around 5,585,499 shares, while 28 investors held positions by with 37,582,887 shares. The mentioned changes placed institutional holdings at 55,864,644 shares, according to the latest SEC report filing. RIDE stock had 34 new institutional investments in for a total of 1,253,231 shares, while 35 institutional investors sold positions of 1,342,965 shares during the same period.