During the last session, Lordstown Motors Corp. (NASDAQ:RIDE)’s traded shares were 96.85 million. At the end of the trading day, the stock’s price was $2.22, reflecting an intraday gain of 47.02% or $0.71. The 52-week high for the RIDE share is $15.80, that puts it down -611.71 from that peak though still a striking 32.43% gain since the share price plummeted to a 52-week low of $1.50. The company’s market capitalization is $475.04M, and the average intraday trading volume over the past 10 days was 8.4 million shares, and the average trade volume was 6.62 million shares over the past three months.
Lordstown Motors Corp. (RIDE) received a consensus recommendation of an Underweight from analysts. That translates to a mean rating of 3.70. RIDE has a Sell rating from 3 analyst(s) out of 7 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.73.
Lordstown Motors Corp. (NASDAQ:RIDE) trade information
Lordstown Motors Corp. (RIDE) registered a 47.02% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 47.02% in intraday trading to $2.22 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is 6.73%, and it has moved by -19.86% in 30 days. Based on these gigs, the overall price performance for the year is -68.19%. The short interest in Lordstown Motors Corp. (NASDAQ:RIDE) is 35.26 million shares and it means that shorts have 5.06 day(s) to cover.
The consensus price target of analysts on Wall Street is $1.67, which implies a decrease of -32.93% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $3.00 respectively. As a result, RIDE is trading at a discount of -35.14% off the target high and 54.95% off the low.
Lordstown Motors Corp. (RIDE) estimates and forecasts
Statistics show that Lordstown Motors Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Lordstown Motors Corp. (RIDE) shares have gone down -60.07% during the last six months, with a year-to-date growth rate more than the industry average at 29.52% against 8.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -217.40% this quarter and then jump 26.40% in the quarter after that.
Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $800k by the end of Mar 2022.
While earnings are projected to return -77.00% in 2022.
Lordstown Motors Corp. is due to release its next quarterly earnings between March 15 and March 21. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Lordstown Motors Corp. (NASDAQ:RIDE)’s Major holders
Lordstown Motors Corp. insiders own 23.94% of total outstanding shares while institutional holders control 30.31%, with the float percentage being 39.85%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 218 institutions own stock in it. As of Dec 30, 2021, the company held over 11.26 million shares (or 5.86% of all shares), a total value of $38.86 million in shares.
The next largest institutional holding, with 9.56 million shares, is of Blackrock Inc.’s that is approximately 4.97% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $32.99 million.
Also, the Mutual Funds coming in first place with the largest holdings of Lordstown Motors Corp. (RIDE) shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Vanguard Total Stock Market Index Fund. Data provided on Nov 29, 2021 indicates that Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF owns about 3.71 million shares. This amounts to just over 1.93 percent of the company’s overall shares, with a $17.38 million market value. The same data shows that the other fund manager holds slightly less at 3.24 million, or about 1.68% of the stock, which is worth about $25.83 million.