Weekly Performance Analysis for Romeo Power Inc. (RMO)

Romeo Power Inc. (NYSE:RMO) saw an upside of 2.18% to $4.72 after adding $0.1 on Tuesday. The 5-day average trading volume is 1,923,591 shares of the company’s common stock. It has gained $4.82 in the past week. An average of 4,425,248 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,424,169.

RMO’s 1-month performance is 0.22% or $0.10 on its low of $4.48 reached on 10/06/21. The company’s shares have touched a 52-week low of $4.09 and high of $38.90, with the stock’s rally to the 52-week high happening on 01/15/21. YTD, RMO has lost -79.46% or -$17.78. However, the current price is down -87.86%% from the 52-week high price.

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Insider Transactions

On Jun 29, 105 days have gone by since the last insider trading activity for Romeo Power Inc. (RMO). Patterson Michael (Former 10% Owner/ Exec.Officer) most recently sold 750,000 shares at $8.22 per share on Jun 29. This transaction cost the insider $6,167,700. Former 10% Owner/ Exec.Officer, Patterson Michael, sold 1,862,399 shares at a price of $8.51 on Jun 28. Then, on May 28, Chief Operating Officer Choi Criswell sold 140,000 shares at a price of $8.46 per share. This transaction amounted to $1,184,400.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 24.58 and a low of 12.68. RMO stock has a beta of 0.00. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 311.64 while the price-to-book (PB) in the most recent quarter is 1.93.

Romeo Power Inc.’s quick ratio for the period ended June 29 was 11.00, with the current ratio over the same period at 11.30 meaning that RMO stock is able to fulfill its debt obligations. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.00, while the total debt to equity was 0.01The trailing 12-month EBITDA margin is -357.68%. The firm’s gross profit as reported stood at -$8.99 million against revenue of $8.97 million.

Earnings Surprise

For the quarterly period ending June 29 this year, Romeo Power Inc.’s cash and short-term investments amounted to $223.64 million against total debt of $8.98 million. Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected RMO to announce -$0.16 per share in earnings in its latest quarter, but it posted -$0.22, representing a -37.50% surprise. EBITDA for the quarter stood at more than -$28.24 million. RMO stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 40.77 million, with total debt at $8.98 million. Shareholders hold equity totaling $134.06 million

Technical Picture

Let’s look briefly at Romeo Power Inc. (RMO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 44.37% to suggest the stock is trending Neutral, with historical volatility in this time period at 33.16%.

The stock’s 5-day moving average is $4.65, reflecting a +2.39% or $0.11 change from its current price. RMO is currently trading -0.84% above its 20-day SMA, -38.83% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by -32.62% and -86.15% respectively.

Stochastic %K and %D was 14.25% and 13.62% and the average true range (ATR) pointed at 0.27. The RSI (14) points at 43.70%, while the 14-day stochastic is at 18.55% with the period’s ATR at 0.30. The stock’s 9-day MACD Oscillator is pointing at -0.04 and -0.24 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Romeo Power Inc. (NYSE: RMO), Cowen launched coverage with an Outperform rating. Analysts offering their rating for RMO stock have a consensus rating for the stock as Hold. Currently, 1 brokerage advisors rate RMO as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 2 have offered a “buy” rating.

What is RMO’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $4.00 and a high of $12.00, with their median price target at $6.85. Looking at these predictions, the average price target given by analysts is for Romeo Power Inc. (RMO) stock is $7.43.


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