Lordstown Motors Corp. (NASDAQ:RIDE) shares, rose in value on Thursday, 06/23/22, with the stock price up by 13.77% to the previous day’s close as strong demand from buyers drove the stock to $1.90.
Actively observing the price movement in the last trading, the stock closed the session at $1.67, falling within a range of $1.68 and $1.90. The value of beta (5-year monthly) was 0.56. Referring to stock’s 52-week performance, its high was $11.88, and the low was $1.49. On the whole, RIDE has fluctuated by -8.65% over the past month.
With the market capitalization of Lordstown Motors Corp. currently standing at about $360.77 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 15, 2022 – Mar 21, 2022. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.43, which is expected to increase to -$0.34 for fiscal year -$1.82 and then to about -$1.57 by fiscal year 2023. Data indicates that the EPS growth is expected to be 19.80% in 2023, while the next year’s EPS growth is forecast to be 13.70%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 2 upward and no downward review(s) in last seven days. We see that RIDE’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
6 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 3 analyst(s), 0 recommend it as a Buy and 0 called the RIDE stock Overweight. In the meantime, 1 analyst(s) believe the stock as Underweight and 2 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Underweight.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of RIDE currently trading nearly 6.15% and -7.82% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.40, while the 7-day volatility ratio is showing 8.97% which for the 30-day chart, stands at 9.16%. Furthermore, Lordstown Motors Corp. (RIDE)’s average true range (ATR) is 0.19.
Data on historical trading for Lordstown Motors Corp. (NASDAQ:RIDE) indicates that the trading volumes over the past 3 months, they’ve averaged 7.87 million. According to company’s latest data on outstanding shares, there are 196.50 million shares outstanding.
Nearly 17.70% of Lordstown Motors Corp.’s shares belong to company insiders and institutional investors own 28.80% of the company’s shares. The stock has fallen by -44.93% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the RIDE stock heading into the next quarter.