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Investing Now Could Prove Beneficial For Romeo Power Inc. (NYSE: RMO)

During the last session, Romeo Power Inc. (NYSE:RMO)’s traded shares were 13.28 million. At the end of the trading day, the stock’s price was $0.78, reflecting an intraday gain of 11.97% or $0.08. The 52-week high for the RMO share is $7.44, that puts it down -853.85 from that peak though still a striking 43.59% gain since the share price plummeted to a 52-week low of $0.44. The company’s market capitalization is $114.29M, and the average intraday trading volume over the past 10 days was 11.1 million shares, and the average trade volume was 7.50 million shares over the past three months.

Romeo Power Inc. (RMO) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.30. RMO has a Sell rating from 0 analyst(s) out of 1 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.3.

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Romeo Power Inc. (NYSE:RMO) trade information

Romeo Power Inc. (RMO) registered a 11.97% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 11.97% in intraday trading to $0.78 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 47.89%, and it has moved by 61.31% in 30 days. Based on these gigs, the overall price performance for the year is -88.56%. The short interest in Romeo Power Inc. (NYSE:RMO) is 21.09 million shares and it means that shorts have 2.31 day(s) to cover.

The consensus price target of analysts on Wall Street is $1.80, which implies an increase of 56.67% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.80 and $1.80 respectively. As a result, RMO is trading at a discount of -130.77% off the target high and -130.77% off the low.

Romeo Power Inc. (RMO) estimates and forecasts

Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -36.40% this quarter and then drop -69.20% in the quarter after that. In the rating firms’ projections, revenue will increase 167.60% compared to the previous financial year.

Revenue for the current quarter is expected to be $10.5 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $11.25 million by the end of Sep 2022.

While earnings are projected to return 175.60% in 2022.

RMO Dividends

Romeo Power Inc. is due to release its next quarterly earnings between March 28 and April 01. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Romeo Power Inc. (NYSE:RMO)’s Major holders

Romeo Power Inc. insiders own 6.60% of total outstanding shares while institutional holders control 41.79%, with the float percentage being 44.75%. Invesco Ltd. is the largest shareholder of the company, while 176 institutions own stock in it. As of Mar 30, 2022, the company held over 10.99 million shares (or 7.27% of all shares), a total value of $16.37 million in shares.

The next largest institutional holding, with 6.76 million shares, is of Blackrock Inc.’s that is approximately 4.47% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $10.07 million.

Also, the Mutual Funds coming in first place with the largest holdings of Romeo Power Inc. (RMO) shares are Global X Fds-Global X Autonomous & Electric Vehicles ETF and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2022 indicates that Global X Fds-Global X Autonomous & Electric Vehicles ETF owns about 3.95 million shares. This amounts to just over 2.61 percent of the company’s overall shares, with a $1.77 million market value. The same data shows that the other fund manager holds slightly less at 2.56 million, or about 1.69% of the stock, which is worth about $3.82 million.

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