Lordstown Motors Corp. (NASDAQ: RIDE) has a higher price-to-earnings ratio of 1.47x compared to its average ratio,, and the 36-month beta value for RIDE is at 1.33. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 2 as “hold,” and 1 as “sell.”
The average price suggested by analysts for RIDE is $7.73, which is $3.53 above the current market price. The public float for RIDE is 13.54M, and currently, shorts hold a 17.83% of that float. The average trading volume for RIDE on June 20, 2023 was 496.87K shares.
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RIDE) stock’s latest price update
The stock of Lordstown Motors Corp. (NASDAQ: RIDE) has decreased by -0.48 when compared to last closing price of 4.21. Despite this, the company has experienced a 36.04% gain in its stock price over the last five trading sessions. The Wall Street Journal reported on 05/02/23 that Lordstown Motors Warns of Bankruptcy Over Foxconn Dispute
RIDE’s Market Performance
RIDE’s stock has risen by 36.04% in the past week, with a monthly drop of -5.47% and a quarterly drop of -61.52%. The volatility ratio for the week is 25.09% while the volatility levels for the last 30 days are 14.65% for Lordstown Motors Corp. The simple moving average for the last 20 days is 18.07% for RIDE stock, with a simple moving average of -75.51% for the last 200 days.
Analysts’ Opinion of RIDE
Many brokerage firms have already submitted their reports for RIDE stocks, with R. F. Lafferty repeating the rating for RIDE by listing it as a “Sell.” The predicted price for RIDE in the upcoming period, according to R. F. Lafferty is $1 based on the research report published on May 10th of the previous year 2022.
RIDE Trading at -24.40% from the 50-Day Moving Average
After a stumble in the market that brought RIDE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -92.51% of loss for the given period.
Volatility was left at 14.65%, however, over the last 30 days, the volatility rate increased by 25.09%, as shares sank -7.81% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -52.20% lower at present.
During the last 5 trading sessions, RIDE rose by +36.04%, which changed the moving average for the period of 200-days by -86.63% in comparison to the 20-day moving average, which settled at $3.53. In addition, Lordstown Motors Corp. saw -75.50% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RIDE starting from Burns Stephen S., who sale 5,000,000 shares at the price of $0.87 back on Jan 06. After this action, Burns Stephen S. now owns 21,683,745 shares of Lordstown Motors Corp., valued at $4,350,000 using the latest closing price.
Burns Stephen S., the 10% Owner of Lordstown Motors Corp., sale 1,169,000 shares at $1.78 during a trade that took place back on Nov 15, which means that Burns Stephen S. is holding 26,683,745 shares at $2,080,820 based on the most recent closing price.
Stock Fundamentals for RIDE
Current profitability levels for the company are sitting at:
- -142224.23 for the present operating margin
- -15375.77 for the gross margin
The net margin for Lordstown Motors Corp. stands at -145569.07. Equity return is now at value -98.30, with -79.90 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 3.72.
Conclusion
In conclusion, Lordstown Motors Corp. (RIDE) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.