Lordstown Motors Corp. [NASDAQ: RIDE] plunged by -$0.12 during the normal trading session on Monday and reaching a high of $1.53 during the day while it closed the day at $1.40. The company report on November 8, 2022 that Lordstown Motors Reports Third Quarter 2022 Financial Results.
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Lordstown Motors Corp. stock has also loss -18.60% of its value over the past 7 days. However, RIDE stock has declined by -30.69% in the 3 months of the year. Over the past six months meanwhile, it has lost -32.69% and lost -59.42% year-on date.
The market cap for RIDE stock reached $311.78 million, with 211.95 million shares outstanding and 182.46 million shares in the current float. Compared to the average trading volume of 4.49M shares, RIDE reached a trading volume of 6054278 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 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 3.50. 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 0.16 The Price to Book ratio for the last quarter was 0.72, with the Price to Cash per share for the same quarter was set at 0.91.
RIDE stock trade performance evaluation
Lordstown Motors Corp. [RIDE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.60. With this latest performance, RIDE shares dropped by -19.08% in over the last four-week period, additionally sinking by -32.69% over the last 6 months – not to mention a drop of -72.33% 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 34.29, with the RSI for the last a single of trading hit 28.31, and the three-weeks RSI is set at 37.88 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 1.7727, while it was recorded at 1.5620 for the last single week of trading, and 2.1932 for the last 200 days.
Lordstown Motors Corp. [RIDE]: An insightful look at the core fundamentals
Lordstown Motors Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.80 and a Current Ratio set at 2.90.
Earnings per share (EPS) analysis for Lordstown Motors Corp. [RIDE] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RIDE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Lordstown Motors Corp. go to -13.88%.
Lordstown Motors Corp. [RIDE]: Insider Ownership positions
There are presently around $84 million, or 28.10% of RIDE stock, in the hands of institutional investors. The top three institutional holders of RIDE stocks are: BLACKROCK INC. with ownership of 11,349,447, which is approximately 7.039% of the company’s market cap and around 14.50% of the total institutional ownership; INVESCO LTD., holding 9,347,784 shares of the stock with an approximate value of $13.09 million in RIDE stocks shares; and VANGUARD GROUP INC, currently with $11.54 million in RIDE stock with ownership of nearly 16.738% of the company’s market capitalization.
69 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 8,187,323 shares. Additionally, 50 investors decreased positions by around 10,194,860 shares, while 45 investors held positions by with 41,820,293 shares. The mentioned changes placed institutional holdings at 60,202,476 shares, according to the latest SEC report filing. RIDE stock had 24 new institutional investments in for a total of 1,512,708 shares, while 17 institutional investors sold positions of 2,330,328 shares during the same period.