Lordstown Motors Corp. [RIDE] fell -46.38% so far this year. What now?

Lordstown Motors Corp. [NASDAQ: RIDE] gained 2.78% or 0.05 points to close at $1.85 with a heavy trading volume of 3109452 shares. The company report on October 14, 2022 that Lordstown Motors Announces Timing of Third Quarter 2022 Financial Results and Webcast.

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Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors”), an original equipment manufacturer (OEM) of electric vehicles focused on the commercial fleet market, today announced that it will release its third quarter 2022 financial results before market open on Tuesday, November 8, 2022. The company will then host a conference call at 8:30 a.m. Eastern Time.

The call can be accessed via a live webcast accessible on the Events page of Lordstown Motors’ Investor Relations website at https://investor.lordstownmotors.com/. An archive of the webcast will be available shortly after the call.

It opened the trading session at $1.78, the shares rose to $1.92 and dropped to $1.7709, the range by which the price of stock traded the whole day. The daily chart for RIDE points out that the company has recorded -11.06% loss over the past six months. However, it is still -24.16% lower than its most recent low trading price.

If we look at the average trading volume of 4.27M shares, RIDE reached to a volume of 3109452 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 Lordstown Motors Corp. [RIDE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIDE shares is $3.62 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIDE stock is a recommendation set at 3.60. 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.

R. F. Lafferty have made an estimate for Lordstown Motors Corp. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on May 10, 2022. While these analysts kept the previous recommendation, R. F. Lafferty raised their target price from $3 to $7. The new note on the price target was released on November 12, 2021, representing the official price target for Lordstown Motors Corp. stock. On October 05, 2021, analysts decreased their price target for RIDE shares from 8 to 2.

The Average True Range (ATR) for Lordstown Motors Corp. is set at 0.14 The Price to Book ratio for the last quarter was 0.69, with the Price to Cash per share for the same quarter was set at 1.17.

Trading performance analysis for RIDE stock

Lordstown Motors Corp. [RIDE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.82. With this latest performance, RIDE shares gained by 9.79% in over the last four-week period, additionally sinking by -11.06% over the last 6 months – not to mention a drop of -68.05% 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 RIDE stock in for the last two-week period is set at 53.85, with the RSI for the last a single of trading hit 59.23, and the three-weeks RSI is set at 50.92 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 1.8613, while it was recorded at 1.8060 for the last single week of trading, and 2.2557 for the last 200 days.

Lordstown Motors Corp. [RIDE]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -70.13, with Return on Assets sitting at -56.37.

Lordstown Motors Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 4.60.

An analysis of insider ownership at Lordstown Motors Corp. [RIDE]

There are presently around $113 million, or 30.90% of RIDE stock, in the hands of institutional investors. The top three institutional holders of RIDE stocks are: BLACKROCK INC. with ownership of 10,603,126, which is approximately 6.569% of the company’s market cap and around 0.30% of the total institutional ownership; INVESCO LTD., holding 9,599,695 shares of the stock with an approximate value of $17.76 million in RIDE stocks shares; and VANGUARD GROUP INC, currently with $13.06 million in RIDE stock with ownership of nearly -22.532% of the company’s market capitalization.

Positions in Lordstown Motors Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 63 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 16,039,372 shares. Additionally, 57 investors decreased positions by around 6,352,877 shares, while 46 investors held positions by with 38,914,426 shares. The mentioned changes placed institutional holdings at 61,306,675 shares, according to the latest SEC report filing. RIDE stock had 14 new institutional investments in for a total of 229,019 shares, while 19 institutional investors sold positions of 722,689 shares during the same period.


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