During the last session, Lordstown Motors Corp. (NASDAQ:RIDE)’s traded shares were 1.67 million, with the beta value of the company hitting 1.30. At the end of the trading day, the stock’s price was $3.73, reflecting an intraday loss of -12.47% or -$0.53. The 52-week high for the RIDE share is $55.95, that puts it down -1400.0 from that peak though still a striking -1.07% loss since the share price plummeted to a 52-week low of $3.77. The company’s market capitalization is $982.00M, and the average intraday trading volume over the past 10 days was 0.42 million shares, and the average trade volume was 384.91K 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 3.50. RIDE has a Sell rating from 1 analyst(s) out of 3 analysts who have looked at this stock. 2 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 -$0.26.
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Lordstown Motors Corp. (NASDAQ:RIDE) trade information
Lordstown Motors Corp. (RIDE) registered a -12.47% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -12.47% in intraday trading to $3.73 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is -15.85%, and it has moved by -49.25% in 30 days. Based on these gigs, the overall price performance for the year is -88.04%. The short interest in Lordstown Motors Corp. (NASDAQ:RIDE) is 2.79 million shares and it means that shorts have 8.75 day(s) to cover.
The consensus price target of analysts on Wall Street is $7.73, which implies an increase of 51.75% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $0.45 and $15.00 respectively. As a result, RIDE is trading at a discount of -302.14% off the target high and 87.94% off the low.
Lordstown Motors Corp. (RIDE) estimates and forecasts
Statistics show that Lordstown Motors Corp. has underperformed its competitors in share price, compared to the industry in which it operates. Lordstown Motors Corp. (RIDE) shares have gone down -82.24% during the last six months, with a year-to-date growth rate less than the industry average at -58.33% against 15.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -36.80% this quarter and then jump 42.50% in the quarter after that. In the rating firms’ projections, revenue will increase 683.50% compared to the previous financial year.
Revenue for the current quarter is expected to be $190k as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $320k by the end of Sep 2023.
While earnings are projected to return 40.30% in 2023, the next five years will return -13.88% per annum.
Lordstown Motors Corp. is due to release its next quarterly earnings between May 08 and May 12. 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 13.46% of total outstanding shares while institutional holders control 24.21%, with the float percentage being 27.98%. Blackrock Inc. is the largest shareholder of the company, while 191 institutions own stock in it. As of Mar 30, 2023, the company held over 11.82 million shares (or 4.95% of all shares), a total value of $7.84 million in shares.
The next largest institutional holding, with 8.48 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 3.55% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $5.62 million.
Also, the Mutual Funds coming in first place with the largest holdings of Lordstown Motors Corp. (RIDE) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 4.78 million shares. This amounts to just over 2.00 percent of the company’s overall shares, with a $5.45 million market value. The same data shows that the other fund manager holds slightly less at 3.83 million, or about 1.60% of the stock, which is worth about $3.99 million.