As of Wednesday close, Lordstown Motors Corp.’s (NASDAQ:RIDE) stock was up $0.01, moving up 0.75 percent to $1.34. The average number of shares traded per day over the past five days has been 5,312,100 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.2800 fall in that time frame. In the last twenty days, the average volume was 6,860,015, while in the previous 50 days, it was 4,988,060.
Since last month, RIDE stock retreated -22.54%. Shares of the company fell to $1.3000 on 11/22/22, the lowest level in the past month. A 52-week high of $5.01 was reached on 01/03/22 after having rallying from a 52-week low of $1.30. Since the beginning of this year, RIDE’s stock price has dropped by -61.16% or -$2.1100, and marked a new high 1 time. However, the stock has declined by -73.28% since its 52-week high.
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RIDE stock investors should be aware that Lordstown Motors Corp. (RIDE) stock had its last reported insider trading activity 10 days ago on Nov 15. Burns Stephen S., the 10% Owner of the company, disposed of 1,169,000 shares for $1.78 on Nov 15. It resulted in a $2,080,820 divestment by the insider. Burns Stephen S. sold 650,000 shares at an average price of $1.73 on Nov 14. The insider now owns 27,852,745 shares following the transaction. On Nov 11, 10% Owner Burns Stephen S. sold 2,100,000 shares at $1.85 apiece. The transaction was valued at $3,885,000.
In the three months ended June 29, Lordstown Motors Corp.’s quick ratio stood at 2.80, while its current ratio was 2.90, showing that the company is able to pay off its debt.
While analysts expected Lordstown Motors Corp. to report -$0.45 quarterly earnings, the actual figure was -$0.19 per share, beating the consensus estimate by 57.80%. The liabilities of Lordstown Motors Corp. were 88.64 million at the end of its most recent quarter ended June 29, and its total debt was $13.5 million. The value of shareholders’ equity is $216.98 million.
This quick technical analysis looks at Lordstown Motors Corp.’s (RIDE) price momentum. With a historical volatility rate of 70.29%, the RSI 9-day stood at 26.63% on 23 November.
With respect to its five-day moving average, the current Lordstown Motors Corp. price is down by -17.28% percent or -$0.2800. At present, RIDE shares trade -23.86% below its 20-day simple moving average and -22.09% percent below its 100-day simple moving average. However, the stock is currently trading approximately -37.38% below its SMA50 and -54.88% below its SMA200.
Stochastic coefficient K was 2.80% and Stochastic coefficient D was 2.06%, while ATR was 0.1447. Given the Stochastic reading of 3.67% for the 14-day period, the RSI (14) reading has been calculated as 32.71%. As of today, the MACD Oscillator reading stands at -0.2044, while the 14-day reading stands at -0.2805.
Lordstown Motors Corp. downgraded its rating on Lordstown Motors Corp. (NASDAQ: RIDE) to a Sell in a note to investors on May 10, 2022. The analysts firm previously had a Hold rating on the stock.Lordstown Motors Corp. (RIDE) has been rated Underweight by analysts. According to 2 brokerage firms, RIDE is a sell, and 2 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Lordstown Motors Corp. stock as buy, with 0 recommending it as overweight.
With a median target price of $1.50, the current consensus forecast for the stock is $1.00 – $2.00. Based on these forecasts, analysts predict Lordstown Motors Corp. (RIDE) will achieve an average price target of $1.50.