Market cap of Romeo Power Inc. [RMO] reaches 77.75M – now what?


Romeo Power Inc. [NYSE: RMO] plunged by -$0.01 during the normal trading session on Monday and reaching a high of $0.5514 during the day while it closed the day at $0.52. The company report on June 20, 2022 that Romeo Power, Inc. Requests Investors to Vote on Proposals at Annual Meeting of Stockholders.

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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, is requesting that shareholders vote on the proposals contained within its Proxy filing prior to the Annual Meeting of Stockholders.

The Annual Meeting of Stockholders was originally scheduled for June 14, 2022, but was adjourned until June 30, 2022 to allow stockholders additional time to vote. Romeo Power is encouraging participation from all investors, big and small, in the voting process. Each shareholder’s participation helps the Company avoid costly additional adjournments and solicitations. Participation also ensures that your voice is heard on critical matters.

Romeo Power Inc. stock has also gained 15.14% of its value over the past 7 days. However, RMO stock has declined by -64.19% in the 3 months of the year. Over the past six months meanwhile, it has lost -87.55% and lost -85.77% year-on date.

The market cap for RMO stock reached $77.75 million, with 135.26 million shares outstanding and 125.22 million shares in the current float. Compared to the average trading volume of 7.04M shares, RMO reached a trading volume of 10339410 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 $5.40 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 0.08, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 2.85. The Price to Book ratio for the last quarter was 0.31, with the Price to Cash per share for the same quarter was set at 0.45.

RMO stock trade performance evaluation

Romeo Power Inc. [RMO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.14. With this latest performance, RMO shares dropped by -36.13% in over the last four-week period, additionally sinking by -87.55% over the last 6 months – not to mention a drop of -94.04% 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 33.73, with the RSI for the last a single of trading hit 35.44, and the three-weeks RSI is set at 33.76 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 0.8761, while it was recorded at 0.5432 for the last single week of trading, and 2.6897 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 2.90 and a Current Ratio set at 4.00.

Romeo Power Inc. [RMO]: Insider Ownership positions

There are presently around $35 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 $5.03 million in RMO stocks shares; and BLACKROCK INC., currently with $3.56 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.