Romeo Power Inc. [RMO] moved down -6.67: Why It’s Important


Romeo Power Inc. [NYSE: RMO] closed the trading session at $0.73 on 06/01/22. The day’s price range saw the stock hit a low of $0.728, while the highest price level was $0.83. The company report on May 26, 2022 that Romeo Power Supplies Batteries to Leader in Powertrain Performance Products.

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Romeo Power announces commercial expansion into aftermarket solutions in alignment with Company’s strategy to support all stages of commercial vehicle electrification.

Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, today announced that the Company is supplying batteries to a leader in powertrain performance products.

The stocks have a year to date performance of -79.91 percent and weekly performance of -9.69 percent. The stock has been moved at -81.48 percent over the last six months. The stock has performed -38.38 percent around the most recent 30 days and changed -54.73 percent over the most recent 3-months.

If compared to the average trading volume of 6.68M shares, RMO reached to a volume of 7272446 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 $7.27 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 2.30. 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.

BTIG Research have made an estimate for Romeo Power Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 02, 2022. The new note on the price target was released on October 27, 2021, representing the official price target for Romeo Power Inc. stock. Previously, the target price had yet another raise to $18, while Cowen analysts kept a Outperform rating on RMO stock.

The Average True Range (ATR) for Romeo Power Inc. is set at 0.10, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 3.94. The Price to Book ratio for the last quarter was 0.44, with the Price to Cash per share for the same quarter was set at 0.46.

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 -9.69. With this latest performance, RMO shares dropped by -38.38% in over the last four-week period, additionally sinking by -81.48% over the last 6 months – not to mention a drop of -92.01% 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 29.79, with the RSI for the last a single of trading hit 25.33, and the three-weeks RSI is set at 32.69 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 1.1721, while it was recorded at 0.7941 for the last single week of trading, and 3.0530 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Romeo Power Inc. [RMO] shares currently have an operating margin of -698.02 and a Gross Margin at -127.04. Romeo Power Inc.’s Net Margin is presently recorded at +59.69.

Return on Equity for this stock inclined to 4.22, with Return on Assets sitting at 2.90.

Romeo Power Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.90 and a Current Ratio set at 4.00.

Romeo Power Inc. [RMO]: Insider Ownership positions

There are presently around $49 million, or 41.80% of RMO stock, in the hands of institutional investors. The top three institutional holders of RMO stocks are: INVESCO LTD. with ownership of 10,987,575, which is approximately 113.581% of the company’s market cap and around 9.00% of the total institutional ownership; BLACKROCK INC., holding 6,758,883 shares of the stock with an approximate value of $5.31 million in RMO stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $5.13 million in RMO stock with ownership of nearly New of the company’s market capitalization.

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 73 institutional holders increased their position in Romeo Power Inc. [NYSE:RMO] by around 24,922,232 shares. Additionally, 61 investors decreased positions by around 7,352,102 shares, while 23 investors held positions by with 29,432,432 shares. The mentioned changes placed institutional holdings at 61,706,766 shares, according to the latest SEC report filing. RMO stock had 28 new institutional investments in for a total of 7,920,453 shares, while 28 institutional investors sold positions of 1,992,012 shares during the same period.