In last trading session, Lordstown Motors Corp. (NASDAQ:RIDE) saw 13,715,452 shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $9.79 trading at -$1.07 or -9.85% at ring of the bell on the day assigns it a market valuation of $1.62 Billion. That closing price of RIDE’s stock is at a discount of -224.82% from its 52-week high price of $31.8 and is indicating a premium of 0.41% from its 52-week low price of $9.75. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 7.54 Million shares which gives us an average trading volume of 10.4 Million if we extend that period to 3-months.
For Lordstown Motors Corp. (RIDE), analysts’ consensus is at an average recommendation of Overweight while assigning it a mean rating of 2.4. Splitting up the data highlights that, out of 5 analysts covering the stock, 1 rated the stock as a Sell while none recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 3 see the stock as a Buy. None analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.29 in the current quarter.
Lordstown Motors Corp. (NASDAQ:RIDE) trade information
In the face of being in the red during last session for losing -9.85%, in the last five days RIDE remained trading in the green while hitting it’s week-highest on Friday, Apr 09 when the stock touched $12.21- price level, adding 19.81% to its value on the day. Lordstown Motors Corp.’s shares saw a change of -51.2% in year-to-date performance and have moved -20.54% in past 5-day. Lordstown Motors Corp. (NASDAQ:RIDE) showed a performance of -39.64% in past 30-days. Number of shares sold short was 21.84 Million shares which calculate 2.1 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $27 to the stock, which implies a rise of 175.79% to its current value. Analysts have been projecting $12 as a low price target for the stock while placing it at a high target of $40. It follows that stock’s current price would jump +308.58% in reaching the projected high whereas dropping to the targeted low would mean a loss of 22.57% for stock’s current value.
Lordstown Motors Corp. (RIDE) estimates and forecasts
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 0% during past 5 years. In 2021, company’s earnings growth rate is likely to be around -62.5% while estimates for its earnings growth in next 5 years are of 0%
Lordstown Motors Corp. (NASDAQ:RIDE)’s Major holders
Insiders are in possession of 37.08% of company’s total shares while institution are holding 23.37% percent of that, with stock having share float percentage of 37.14%. Investors also watch the number of corporate investors in a company very closely, which is 144 institutions for Lordstown Motors Corp. that are currently holding shares of the company. FMR, LLC is the top institutional holder at RIDE for having 10.43 Million shares of worth $209.29 Million. And as of December 30, 2020, it was holding 5.91% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 8.23 Million shares on December 30, 2020. The number of shares represents firm’s hold over 4.66% of outstanding shares, having a total worth of $165.1 Million.
On the other hand, Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of March 30, 2021, the former fund manager was holding 3233785 shares of worth $38.06 Million or 1.83% of the total outstanding shares. The later fund manager was in possession of 2.79 Million shares on December 30, 2020, making its stake of worth around $55.92 Million in the company or a holder of 1.58% of company’s stock.