Lordstown Motors Corp. (NASDAQ:RIDE) has a beta value of 1.25 and has seen 5.29 million shares traded in the last trading session. The company, currently valued at $253.90M, closed the last trade at $1.30 per share which meant 0.00% during that session. The RIDE stock price is -191.54% off its 52-week high price of $3.79 and 33.08% above the 52-week low of $0.87. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.64 million shares traded. The 3-month trading volume is 5.93 million shares.
Lordstown Motors Corp. (NASDAQ:RIDE) trade information
The stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the RIDE stock price touched $1.30 or saw a rise of 1.52%. Year-to-date, Lordstown Motors Corp. shares have moved 14.04%, while the 5-day performance has seen it change 13.04%. Over the past 30 days, the shares of Lordstown Motors Corp. (NASDAQ:RIDE) have changed 9.24%. Short interest in the company has seen 40.11 million shares shorted with days to cover at 10.06.
Wall Street analysts have a consensus price target for the stock at $1.25, which means that the shares’ value could drop -4.0% from current levels. The projected low price target is $0.75 while the price target rests at a high of $2.00. In that case, then, we find that the current price level is -53.85% off the targeted high while a plunge would see the stock lose 42.31% from current levels.
Lordstown Motors Corp. (RIDE) estimates and forecasts
Figures show that Lordstown Motors Corp. shares have outperformed across the wider relevant industry. The company’s shares have lost -38.10% over the past 6 months, with this year growth rate of 51.54%, compared to 4.40% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 42.60% and 9.50% for the next quarter.
2 have an estimated revenue figure of $4.79 million for the next quarter concluding in Dec 2022.
Earnings growth for 2023 is a modest -77.00% while over the next 5 years, the company’s earnings are expected to decrease by -13.88%.
Lordstown Motors Corp. is expected to release its next earnings report between February 27 and March 03 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Lordstown Motors Corp. (NASDAQ:RIDE)’s Major holders
Insiders own 19.08% of the company shares, while shares held by institutions stand at 30.90% with a share float percentage of 38.18%. Investors are also buoyed by the number of investors in a company, with Lordstown Motors Corp. having a total of 203 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 10.6 million shares worth more than $16.75 million. As of Jun 29, 2022, Blackrock Inc. held 5.15% of shares outstanding.
The other major institutional holder is Invesco Ltd., with the holding of over 9.6 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $15.17 million and represent 4.66% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Vanguard Total Stock Market Index Fund. As of Sep 29, 2022, the former fund manager holds about 3.74% shares in the company for having 7.69 million shares of worth $14.07 million while later fund manager owns 4.43 million shares of worth $7.0 million as of Jun 29, 2022, which makes it owner of about 2.15% of company’s outstanding stock.