Lordstown Motors Corp. [RIDE] is -30.85% lower this YTD. Is it still time to buy?

Lordstown Motors Corp. [NASDAQ: RIDE] gained 1.48% or 0.01 points to close at $0.79 with a heavy trading volume of 4717835 shares. The company report on March 8, 2023 that Lordstown Motors Exhibiting at NTEA Work Truck Week March 7-10.

The EV innovator is bringing the Lordstown Endurance™ full size all-electric pickup onsite at the Work Truck Week show at the Indiana Convention Center. The Lordstown Endurance™ began commercial production at the Foxconn EV Ohio assembly plant in Q3 2022 with initial sales in Q4 2022.

It opened the trading session at $0.793, the shares rose to $0.8242 and dropped to $0.7724, the range by which the price of stock traded the whole day. The daily chart for RIDE points out that the company has recorded -62.82% loss over the past six months. However, it is still -3.95% lower than its most recent low trading price.

If we look at the average trading volume of 4.63M shares, RIDE reached to a volume of 4717835 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 $3.19 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 3.70. 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 0.09, with the Price to Sales ratio for RIDE stock in the period of the last 12 months amounting to 951.16. The Price to Book ratio for the last quarter was 0.51, 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 -19.56. With this latest performance, RIDE shares dropped by -37.44% in over the last four-week period, additionally sinking by -62.82% over the last 6 months – not to mention a drop of -63.33% 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 29.23, with the RSI for the last a single of trading hit 24.03, and the three-weeks RSI is set at 33.28 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 1.1534, while it was recorded at 0.8304 for the last single week of trading, and 1.6638 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and Lordstown Motors Corp. [RIDE] shares currently have an operating margin of -136305.67 and a Gross Margin at -15488.14. Lordstown Motors Corp.’s Net Margin is presently recorded at -145569.07.

Return on Equity for this stock declined to -61.28, with Return on Assets sitting at -49.50.

Lordstown Motors Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.70.

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 $45 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 12,382,405, which is approximately 9.101% of the company’s market cap and around 12.40% of the total institutional ownership; INVESCO LTD., holding 10,558,420 shares of the stock with an approximate value of $8.32 million in RIDE stocks shares; and VANGUARD GROUP INC, currently with $6.6 million in RIDE stock with ownership of nearly 1.684% of the company’s market capitalization.

Positions in Lordstown Motors Corp. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 72 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 5,484,836 shares. Additionally, 58 investors decreased positions by around 8,008,853 shares, while 39 investors held positions by with 43,759,644 shares. The mentioned changes placed institutional holdings at 57,253,333 shares, according to the latest SEC report filing. RIDE stock had 28 new institutional investments in for a total of 819,689 shares, while 21 institutional investors sold positions of 773,687 shares during the same period.