Romeo Power Inc. [RMO] Revenue clocked in at $27.30 million, down -75.94% YTD: What’s Next?

Romeo Power Inc. [NYSE: RMO] stock went on a downward path that fall over -1.34% on Monday, amounting to a one-week price increase of more than 25.78%. The company report on August 1, 2022 that Nikola Agrees to Acquire Romeo Power, To Bring Battery Pack Engineering and Production In-House.

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Acquisition will secure control of critical battery pack engineering and production process.

Transaction expected to yield annual cost savings of up to $350 million by 2026.

Over the last 12 months, RMO stock dropped by -86.78%. The one-year Romeo Power Inc. stock forecast points to a potential upside of 51.11. The average equity rating for RMO stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $158.55 million, with 135.26 million shares outstanding. Compared to the average trading volume of 7.82M shares, RMO stock reached a trading volume of 8042396 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 $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 3.00. 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 5.81. The Price to Book ratio for the last quarter was 0.53, with the Price to Cash per share for the same quarter was set at 0.37.

RMO Stock Performance Analysis:

Romeo Power Inc. [RMO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.78. With this latest performance, RMO shares gained by 60.59% in over the last four-week period, additionally sinking by -59.72% over the last 6 months – not to mention a drop of -86.78% 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 70.83, with the RSI for the last a single of trading hit 78.94, and the three-weeks RSI is set at 63.41 for Romeo Power Inc. [RMO]. The present Moving Average for the last 50 days of trading for this stock 0.6057, while it was recorded at 0.8234 for the last single week of trading, and 2.0687 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 $55 million, or 34.00% 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 9.40% of the total institutional ownership; BLACKROCK INC., holding 6,758,883 shares of the stock with an approximate value of $5.93 million in RMO stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $5.73 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 67 institutional holders increased their position in Romeo Power Inc. [NYSE:RMO] by around 22,801,826 shares. Additionally, 65 investors decreased positions by around 12,305,766 shares, while 23 investors held positions by with 27,180,894 shares. The mentioned changes placed institutional holdings at 62,288,486 shares, according to the latest SEC report filing. RMO stock had 25 new institutional investments in for a total of 8,443,035 shares, while 29 institutional investors sold positions of 1,755,655 shares during the same period.


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