Romeo Power Inc. [RMO] Is Currently 10.42 above its 200 Period Moving Avg: What Does This Mean?


Romeo Power Inc. [NYSE: RMO] jumped around 0.05 points on Wednesday, while shares priced at $0.53 at the close of the session, up 10.42%. The company report on July 25, 2022 that Romeo Power Announces Successful Completion of its Relocation to New State-of-the-Art Manufacturing Center in Orange County, CA.

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Company Marks Major Milestone with Final Phase of Its Move to Cypress, Advancing Plans for New Market Expansion, Enhanced Production Capabilities and Operational Efficiencies.

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 the completion of the third and final phase of its relocation from Vernon, California to its new 215,000 sq. ft. manufacturing center and headquarters in Cypress, California.

Romeo Power Inc. stock is now -85.48% down from its year-to-date (YTD) trading value. RMO Stock saw the intraday high of $0.535 and lowest of $0.471 per share. The company’s 52-week high price is 7.44, which means current price is +21.28% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 6.51M shares, RMO reached a trading volume of 4744786 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $1.80 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 0.06, with the Price to Sales ratio for RMO stock in the period of the last 12 months amounting to 3.16. 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 0.41.

How has RMO stock performed recently?

Romeo Power Inc. [RMO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.24. With this latest performance, RMO shares gained by 2.06% in over the last four-week period, additionally sinking by -75.80% 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 46.24, with the RSI for the last a single of trading hit 48.08, and the three-weeks RSI is set at 43.93 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 0.6321, while it was recorded at 0.5172 for the last single week of trading, and 2.2313 for the last 200 days.

Romeo Power Inc. [RMO]: Deeper insight into the 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.

Insider trade positions for Romeo Power Inc. [RMO]

There are presently around $33 million, or 41.70% 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 11.50% of the total institutional ownership; BLACKROCK INC., holding 6,758,883 shares of the stock with an approximate value of $3.58 million in RMO stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $3.46 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 August and at the time of the August reporting period, where 70 institutional holders increased their position in Romeo Power Inc. [NYSE:RMO] by around 21,914,460 shares. Additionally, 62 investors decreased positions by around 12,427,688 shares, while 23 investors held positions by with 27,112,947 shares. The mentioned changes placed institutional holdings at 61,455,095 shares, according to the latest SEC report filing. RMO stock had 27 new institutional investments in for a total of 7,904,344 shares, while 28 institutional investors sold positions of 2,006,367 shares during the same period.