Romeo Power Inc. [RMO] fell -82.74% so far this year. What now?


Romeo Power Inc. [NYSE: RMO] gained 26.00% or 0.13 points to close at $0.63 with a heavy trading volume of 11676215 shares. The company report on July 12, 2022 that Romeo Power Focuses on Growth & Expansion in Three Key Markets with Opening of New 215,000 Sq. Ft. Manufacturing Center.

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New headquarters and state-of-the-art manufacturing facility enables Romeo to accelerate business opportunities in the Transportation sector and target expansion in Industrial and Marine Environments.

Romeo Power, Inc. (“Romeo Power” or the “Company”) (NYSE: RMO), an energy technology leader delivering advanced electrification solutions for complex commercial vehicle applications, is completing its relocation to a new state-of-the-art manufacturing center in Cypress, California to accommodate the Company’s growth trajectory, leverage the diverse Orange County technology talent pool, and enhance the quality and cost-effectiveness of the Company’s leading electrification products.

It opened the trading session at $0.5162, the shares rose to $0.6773 and dropped to $0.476, the range by which the price of stock traded the whole day. The daily chart for RMO points out that the company has recorded -80.50% loss over the past six months. However, it is still -43.18% lower than its most recent low trading price.

If we look at the average trading volume of 6.35M shares, RMO reached to a volume of 11676215 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 0.07, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 3.18. The Price to Book ratio for the last quarter was 0.38, with the Price to Cash per share for the same quarter was set at 0.49.

Trading performance analysis for RMO stock

Romeo Power Inc. [RMO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.66. With this latest performance, RMO shares dropped by -4.55% in over the last four-week period, additionally sinking by -80.50% over the last 6 months – not to mention a drop of -91.16% 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 53.33, with the RSI for the last a single of trading hit 62.48, and the three-weeks RSI is set at 47.24 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 0.7466, while it was recorded at 0.5272 for the last single week of trading, and 2.4699 for the last 200 days.

Romeo Power Inc. [RMO]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Romeo Power Inc. [RMO]

There are presently around $33 million, or 41.50% 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 10.20% of the total institutional ownership; MIRAE ASSET GLOBAL INVESTMENTS CO., LTD., holding 9,538,636 shares of the stock with an approximate value of $4.77 million in RMO stocks shares; and BLACKROCK INC., currently with $3.38 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 August and at the time of the August reporting period, where 72 institutional holders increased their position in Romeo Power Inc. [NYSE:RMO] by around 29,704,498 shares. Additionally, 64 investors decreased positions by around 7,355,097 shares, while 22 investors held positions by with 29,423,849 shares. The mentioned changes placed institutional holdings at 66,483,444 shares, according to the latest SEC report filing. RMO stock had 29 new institutional investments in for a total of 7,935,308 shares, while 30 institutional investors sold positions of 1,997,012 shares during the same period.