Analysts gave the Lordstown Motors Corp. (RIDE) stock a consensus recommendation rating of Underweight, calculated at a mean rating of 3.3. If we narrow down to specifics, the data shows that 3 out of 7 analysts rate the stock as a Sell, with a further none assigning it an Overweight rating. Of the remaining, 3 recommended RIDE as a Hold, 1 felt it is a Buy and none rated the stock as Underweight. Lordstown Motors Corp.’s EPS for the current quarter is expected to be -$0.46.
Lordstown Motors Corp. (NASDAQ:RIDE) trade information
Although RIDE has turned red as seen at the end of in last trading. With action -5.45%, the performance over the past five days has been green. The jump to weekly highs of $11.07 on Thursday, Jun 17 added 9.03% to the stock’s daily price. The company’s shares are showing year-to-date downside of -0.5%, with the 5-day performance at 0.09% in the green. However, in the 30-day time frame, Lordstown Motors Corp. (NASDAQ:RIDE) is 0.05% up. Looking at the short shares, we see there were 34.53 Million shares sold at short interest cover period of 2.91 days.
The consensus price target for the stock as assigned by Wall Street analysts is $8.14, meaning bulls need a downside of -19.17% from its current market value. According to analyst projections, RIDE’s forecast low is $1 with $20 as the target high. To hit the forecast high, the stock’s price needs a +98.61% upsurge from its current level, while the stock would need to tank -90.07% for it to hit the projected low.
Lordstown Motors Corp. (RIDE) estimates and forecasts
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 0%. The 2021 estimates are for Lordstown Motors Corp. earnings to decrease by -98.1%, but the outlook for the next 5-year period is at 0% per year.
Lordstown Motors Corp. (NASDAQ:RIDE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 37.09% of Lordstown Motors Corp. shares while 22.53% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 35.81%. There are 177 institutions holding the Lordstown Motors Corp. stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Mar 30, 2021, the company held 4.75% of the shares, roughly 8.39 Million RIDE shares worth $98.8 Million.
FMR, LLC holds the second largest percentage of outstanding shares, with 2.6% or 4.6 Million shares worth $54.13 Million as of Mar 30, 2021.
Among Mutual Funds, the top two as of May 30, 2021 were Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Vanguard Total Stock Market Index Fund. With 2936980 shares estimated at $29.08 Million under it, the former controlled 1.66% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.59% of the shares, roughly 2.82 Million shares worth around $33.14 Million.