Lordstown Motors Corp. [NASDAQ: RIDE] stock went on an upward path that rose over 7.14% on Wednesday, amounting to a one-week price decrease of less than -1.13%. The company report on April 18, 2023 at 7:55 AM that Lordstown Motors Taps Amerit Fleet Solutions for Service & Warranty as Production Resumes.
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Over the last 12 months, RIDE stock dropped by -78.13%. The one-year Lordstown Motors Corp. stock forecast points to a potential upside of 83.33. The average equity rating for RIDE stock is currently 3.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $126.41 million, with 225.29 million shares outstanding and 179.20 million shares in the current float. Compared to the average trading volume of 4.52M shares, RIDE stock reached a trading volume of 3195076 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $3.12 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 0.05, with the Price to Sales ratio for RIDE stock in the period of the last 12 months amounting to 632.07. The Price to Book ratio for the last quarter was 0.34, with the Price to Cash per share for the same quarter was set at 0.92.
RIDE Stock Performance Analysis:
Lordstown Motors Corp. [RIDE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.13. With this latest performance, RIDE shares dropped by -19.99% in over the last four-week period, additionally sinking by -68.37% over the last 6 months – not to mention a drop of -78.13% 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 35.73, with the RSI for the last a single of trading hit 41.32, and the three-weeks RSI is set at 34.49 for Lordstown Motors Corp. [RIDE]. The present Moving Average for the last 50 days of trading for this stock 0.7905, while it was recorded at 0.4926 for the last single week of trading, and 1.4892 for the last 200 days.
Insight into Lordstown Motors Corp. Fundamentals:
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.
RIDE Stock EPS
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 Position Details
There are presently around $30 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 $5.54 million in RIDE stocks shares; and VANGUARD GROUP INC, currently with $4.4 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 68 institutional holders increased their position in Lordstown Motors Corp. [NASDAQ:RIDE] by around 5,072,135 shares. Additionally, 58 investors decreased positions by around 7,986,136 shares, while 40 investors held positions by with 43,679,647 shares. The mentioned changes placed institutional holdings at 56,737,918 shares, according to the latest SEC report filing. RIDE stock had 22 new institutional investments in for a total of 744,046 shares, while 26 institutional investors sold positions of 810,335 shares during the same period.