Lordstown Motors Corp. [RIDE] is -62.32% lower this YTD. Is it still time to buy?

Lordstown Motors Corp. [NASDAQ: RIDE] loss -3.70% on the last trading session, reaching $1.30 price per share at the time. The company report on November 29, 2022 that Lordstown Endurance™ Pickup Truck Achieves Full Homologation; EPA and CARB Certification Received; First Customer Vehicles Leaving Foxconn EV Ohio Plant for Delivery.

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Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors” or the “Company”), an original equipment manufacturer (“OEM”) of electric light duty vehicles focused on the commercial fleet market, today announced:.

Lordstown EnduranceTM full-size battery-electric pickup truck has achieved full homologation, a key condition to start sales.

Lordstown Motors Corp. represents 211.95 million in outstanding shares, while the company has a total market value of $286.19 million with the latest information. RIDE stock price has been found in the range of $1.28 to $1.35.

If compared to the average trading volume of 5.08M shares, RIDE reached a trading volume of 4928858 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 3.50. 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 0.14 The Price to Book ratio for the last quarter was 0.67, with the Price to Cash per share for the same quarter was set at 0.92.

Trading performance analysis for RIDE stock

Lordstown Motors Corp. [RIDE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.45. With this latest performance, RIDE shares dropped by -24.42% in over the last four-week period, additionally sinking by -21.21% over the last 6 months – not to mention a drop of -67.50% 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 36.53, with the RSI for the last a single of trading hit 32.28, and the three-weeks RSI is set at 38.98 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 1.6269, while it was recorded at 1.3580 for the last single week of trading, and 2.0633 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 2.80 and a Current Ratio set at 2.90.

Lordstown Motors Corp. [RIDE]: An earnings per share (EPS) analysis

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%.

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

There are presently around $78 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 12.50% of the total institutional ownership; INVESCO LTD., holding 9,347,784 shares of the stock with an approximate value of $12.15 million in RIDE stocks shares; and VANGUARD GROUP INC, currently with $10.71 million in RIDE stock with ownership of nearly 16.738% 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 68 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 8,167,986 shares. Additionally, 51 investors decreased positions by around 10,214,197 shares, while 45 investors held positions by with 41,800,956 shares. The mentioned changes placed institutional holdings at 60,183,139 shares, according to the latest SEC report filing. RIDE stock had 23 new institutional investments in for a total of 1,493,371 shares, while 18 institutional investors sold positions of 2,349,665 shares during the same period.

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