Home  »  Company   »  Lordstown Motors Corp. (NASDAQ:RIDE) Has Recovered...

Lordstown Motors Corp. (NASDAQ:RIDE) Has Recovered -72.26 Percent This Year, But Further Gains Of -273.88% Are Not Out Of The Question.

In last trading session, Lordstown Motors Corp. (NASDAQ:RIDE) saw 4.81 million shares changing hands with its beta currently measuring 1.17. Company’s recent per share price level of $1.34 trading at $0.01 or 0.75% at ring of the bell on the day assigns it a market valuation of $298.42M. That closing price of RIDE’s stock is at a discount of -273.88% from its 52-week high price of $5.01 and is indicating a premium of 2.99% from its 52-week low price of $1.30. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.34 million shares which gives us an average trading volume of 4.57 million if we extend that period to 3-months.

For Lordstown Motors Corp. (RIDE), analysts’ consensus is at an average recommendation of an Underweight while assigning it a mean rating of 3.50. Splitting up the data highlights that, out of 4 analysts covering the stock, 2 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 0 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.31 in the current quarter.

3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.


Lordstown Motors Corp. (NASDAQ:RIDE) trade information

Upright in the green during last session for gaining 0.75%, in the last five days RIDE remained trading in the red while hitting it’s week-highest on Thursday, 11/17/22 when the stock touched $1.34 price level, adding 19.27% to its value on the day. Lordstown Motors Corp.’s shares saw a change of -61.16% in year-to-date performance and have moved -17.28% in past 5-day. Lordstown Motors Corp. (NASDAQ:RIDE) showed a performance of -22.54% in past 30-days. Number of shares sold short was 40.11 million shares which calculate 10.06 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $1.50 to the stock, which implies a rise of 10.67% to its current value. Analysts have been projecting $1.00 as a low price target for the stock while placing it at a high target of $2.00. It follows that stock’s current price would drop -49.25% in reaching the projected high whereas dropping to the targeted low would mean a gain of 25.37% for stock’s current value.

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 -27.57% of value to its shares in past 6 months, showing an annual growth rate of 51.54% while that of industry is 1.50. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 42.60% in the current quarter and calculating 9.50% increase in the next quarter.

And 2 analysts are in estimates of company making revenue of $4.79 million in the next quarter that will end on Dec 2022.

In 2022, company’s earnings growth rate is likely to be around -77.00% while estimates for its earnings growth in next 5 years are of -13.88%.

RIDE Dividends

Lordstown Motors Corp. is more likely to be releasing its next quarterly report on November 08 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 19.08% of company’s total shares while institution are holding 30.90 percent of that, with stock having share float percentage of 38.18%. Investors also watch the number of corporate investors in a company very closely, which is 30.90% institutions for Lordstown Motors Corp. that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at RIDE for having 10.6 million shares of worth $16.75 million. And as of Jun 29, 2022, it was holding 5.15% of the company’s outstanding shares.

The second largest institutional holder is Invesco Ltd., which was holding about 9.6 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 4.66% of outstanding shares, having a total worth of $15.17 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 Sep 29, 2022, the former fund manager was holding 7.69 million shares of worth $14.07 million or 3.74% of the total outstanding shares. The later fund manager was in possession of 4.43 million shares on Jun 29, 2022, making its stake of worth around $7.0 million in the company or a holder of 2.15% of company’s stock.

Leave a Comment

Your email address will not be published. Required fields are marked *

On Key

Related Posts