Romeo Power Inc. [RMO] is -85.60% lower this YTD. Is it still time to buy?


Romeo Power Inc. [NYSE: RMO] stock went on a downward path that fall over -12.39% on Tuesday, amounting to a one-week price decrease of less than -25.10%. The company report on June 10, 2022 that Romeo Power Announces Receipt of Continued Listing Standard Notice from NYSE.

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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 it received a letter (the “Letter”) from the New York Stock Exchange (the “NYSE”) indicating that the Company is not in compliance with the NYSE continued listing standard as set forth in Section 802.01C of the NYSE Listed Company Manual. The Letter does not result in the immediate delisting of Romeo Power’s common stock from the NYSE.

Pursuant to Section 802.01C of the NYSE’s Listed Company Manual, a company will be considered to be below compliance standards if the average closing price of its security is less than US$1.00 over a consecutive 30 trading-day period. Once notified, a company must bring its share price and average share price back above US$1.00 within six months following receipt of the notification. The Company can regain compliance at any time during the six-month cure period if on the last trading day of any calendar month during the cure period the company has a closing share price of at least US$1.00 and an average closing share price of at least US$1.00 over the 30 trading-day period ending on the last trading day of that month. In the event that at the expiration of the six-month cure period, both a US$1.00 closing share price on the last trading day of the cure period and a US$1.00 average closing share price over the 30 trading-day period ending on the last trading day of the cure period are not attained, the NYSE will commence suspension and delisting procedures.

Over the last 12 months, RMO stock dropped by -93.90%. The one-year Romeo Power Inc. stock forecast points to a potential upside of 92.71. The average equity rating for RMO stock is currently 2.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $80.19 million, with 135.26 million shares outstanding and 125.31 million shares in the current float. Compared to the average trading volume of 6.54M shares, RMO stock reached a trading volume of 11581470 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 0.09, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 2.94. The Price to Book ratio for the last quarter was 0.32, with the Price to Cash per share for the same quarter was set at 0.44.

RMO Stock Performance Analysis:

Romeo Power Inc. [RMO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -25.10. With this latest performance, RMO shares dropped by -45.03% in over the last four-week period, additionally sinking by -86.46% over the last 6 months – not to mention a drop of -93.90% 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 23.73, with the RSI for the last a single of trading hit 18.25, and the three-weeks RSI is set at 28.01 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 1.0220, while it was recorded at 0.6325 for the last single week of trading, and 2.8679 for the last 200 days.

Insight into Romeo Power Inc. 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 Position Details

There are presently around $40 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; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 9,538,636 shares of the stock with an approximate value of $5.72 million in RMO stocks shares; and BLACKROCK INC., currently with $4.05 million in RMO stock with ownership of nearly -13.975% 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 29,691,550 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 66,476,084 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.