In last trading session, Lordstown Motors Corp. (NASDAQ:RIDE) saw 2.48 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $1.88 trading at $0.01 or 0.53% at ring of the bell on the day assigns it a market valuation of $411.66M. That closing price of RIDE’s stock is at a discount of -375.0% from its 52-week high price of $8.93 and is indicating a premium of 20.74% from its 52-week low price of $1.49. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.43 million shares which gives us an average trading volume of 4.37 million if we extend that period to 3-months.
Lordstown Motors Corp. (NASDAQ:RIDE) trade information
Upright in the green during last session for gaining 0.53%, in the last five days RIDE remained trading in the red while hitting it’s week-highest on Thursday, 09/15/22 when the stock touched $1.88 price level, adding 18.61% to its value on the day. Lordstown Motors Corp.’s shares saw a change of -45.51% in year-to-date performance and have moved -12.15% in past 5-day. Lordstown Motors Corp. (NASDAQ:RIDE) showed a performance of -6.93% in past 30-days. Number of shares sold short was 39.46 million shares which calculate 7.11 days to cover the short interests.
Lordstown Motors Corp. (RIDE) estimates and forecasts
Statistics highlight that Lordstown Motors Corp. is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -35.84% of value to its shares in past 6 months, showing an annual growth rate of 66.96% while that of industry is 0.20. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 26.20% in the current quarter and calculating 18.50% increase in the next quarter.
And 4 analysts are in estimates of company making revenue of $1.32 million in the next quarter that will end on Sep 2022.
Lordstown Motors Corp. is more likely to be releasing its next quarterly report between March 15 and March 21 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Lordstown Motors Corp. (NASDAQ:RIDE)’s Major holders
Insiders are in possession of 19.05% of company’s total shares while institution are holding 26.11 percent of that, with stock having share float percentage of 32.25%. Investors also watch the number of corporate investors in a company very closely, which is 26.11% institutions for Lordstown Motors Corp. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at RIDE for having 9.95 million shares of worth $33.93 million. And as of Mar 30, 2022, it was holding 5.04% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group, Inc. (The), which was holding about 9.11 million shares on Mar 30, 2022. The number of shares represents firm’s hold over 4.62% of outstanding shares, having a total worth of $31.07 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 Jun 29, 2022, the former fund manager was holding 7.93 million shares of worth $12.53 million or 4.02% of the total outstanding shares. The later fund manager was in possession of 3.65 million shares on Mar 30, 2022, making its stake of worth around $12.45 million in the company or a holder of 1.85% of company’s stock.