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Are Investors Declined To Sell Their Lordstown Motors Corp. (NASDAQ: RIDE) Holdings?

Lordstown Motors Corp. (NASDAQ:RIDE) traded at $1.24 at close of the session on Tuesday, 01/24/23, made a downward move of -4.62% on its previous day’s price.

Looking at the stock we see that its previous close was $1.30 and the beta (5Y monthly) reads 1.24 with the day’s price range being $1.21 – $1.31. In terms of its 52-week price range, RIDE has a high of $3.79 and a low of $0.87. The company’s stock has gained about 6.90% over that past 30 days.

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Lordstown Motors Corp. has a market cap of $242.18 million and is expected to release its quarterly earnings report on Feb 27, 2023 – Mar 03, 2023. Estimates by analysts give the company expected earnings per share (EPS) of -$0.31, with the EPS growth for the year raised at -$1.2 for 2022 and -$1.46 for next year. These figures represent 47.10% and -21.70% growth in EPS for the two years respectively.

There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the RIDE stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 100% Sell.

Based on estimates by 4 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 2 have rated the Lordstown Motors Corp. (RIDE) stock as a Hold, while 0 rate it as a Buy. 0 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 2 suggest the stock as a Sell. The stock has an overall rating of Underweight and investors could take advantage and scoop up stock of the company.

Looking further, we note the current price level is 11.62% off its SMA20 and -6.26% from its 50-day simple moving average. The RSI (14) is pointing at 52.75 while the volatility over the past week is 9.10% and jumps to 9.45% over the past one month. The beta value is 1.25, while the average true range (ATR) is currently pointing at 0.11.

Coming back to Lordstown Motors Corp. (NASDAQ:RIDE), we note that the average 3-month trading volume was 5.98 million, while that of the preceding 10-day period stands at 5.83 million. Current shares outstanding are 211.95 million.

The insiders hold 12.40% of the company’s shares while institutions hold 28.10%. The data shows that short shares as of Oct 13, 2022, stood at 40.11 million at a short ratio of 10.06. This represents a 18.65% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 40.03 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 8.77% up in year-to-date price movement.

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