Lordstown Motors Corp. (NASDAQ:RIDE) saw a downside of -2.98% to close Friday at $4.89 after subtracting -$0.15 on the day. The 5-day average trading volume is 13,210,200 shares of the company’s common stock. It has gained $6.54 in the past week. An average of 11,735,470 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 12,790,298.
RIDE’s 1-month performance is -22.63% or -$1.28 on its low of $4.83 reached on 10/08/21. The company’s shares have touched a 52-week low of $4.77 and high of $31.57, with the stock’s rally to the 52-week high happening on 02/11/21. YTD, RIDE has lost -75.62% or -$15.17. However, the current price is down -84.51%% from the 52-week high price.
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On Feb 04, 249 days have gone by since the last insider trading activity for Lordstown Motors Corp. (RIDE). Rodriguez Julio C. (Chief Financial Officer) most recently sold 9,300 shares at $27.00 per share on Feb 04. This transaction cost the insider $251,100. Vice President of Engineering, Post Darren, sold 10,000 shares at a price of $27.21 on Feb 04. Then, on Feb 03, President Schmidt Phil Richard sold 50,000 shares at a price of $27.44 per share. This transaction amounted to $1,372,000.
Lordstown Motors Corp. (RIDE) has a trailing price-to-earnings (P/E) ratio of 15.45 for the broader industry and 20.34 for the sector.RIDE stock has a beta of 0.00. Moving on to other valuation ratios, the price-to-book (PB) in the most recent quarter is 1.44.
Lordstown Motors Corp.’s quick ratio for the period ended June 29 was 4.70, with the current ratio over the same period at 4.70 meaning that RIDE stock is able to fulfill its debt obligations.
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected RIDE to announce -$0.49 per share in earnings in its latest quarter, but it posted -$0.61, representing a -24.50% surprise. EBITDA for the quarter stood at more than -$110.34 million. RIDE stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 88.25 million. Shareholders hold equity totaling $176.98 million
Let’s look briefly at Lordstown Motors Corp. (RIDE) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 October was 28.45% to suggest the stock is trending oversold, with historical volatility in this time period at 119.21%.
The stock’s 5-day moving average is $5.21, reflecting a -25.11% or -$1.64 change from its current price. RIDE is currently trading -20.87% above its 20-day SMA, -51.54% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -21.13% and -76.17% respectively.
Stochastic %K and %D was 2.08% and 2.17% and the average true range (ATR) pointed at 0.68. The RSI (14) points at 34.23%, while the 14-day stochastic is at 1.46% with the period’s ATR at 0.67. The stock’s 9-day MACD Oscillator is pointing at -1.12 and -1.54 on the 14-day charts.
In the most recent analyst report for Lordstown Motors Corp. (NASDAQ: RIDE), Morgan Stanley downgraded it to an Underweight rating. They previously had an Equal-weight rating on the stock. Analysts offering their rating for RIDE stock have a consensus rating for the stock as Underweight. Currently, 5 brokerage advisors rate RIDE as a “sell,”, while 1 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is RIDE’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $1.00 and a high of $10.00, with their median price target at $5.00. Looking at these predictions, the average price target given by analysts is for Lordstown Motors Corp. (RIDE) stock is $4.75.