Wolfe Research lowered the price target for the Lordstown Motors Corp. (NASDAQ:RIDE) stock from “a Peer perform” to “an Underperform”. The rating was released on May 20, 2021. We previously noted in another research note published on April 22, 2021 by Goldman that downgraded the stock from a Buy to a Neutral with a price target of $10 for RIDE stock. The research report from BofA Securities has initiated the stock to Neutral, with a price target set at $13. The stock was initiated by Morgan Stanley, who disclosed in a research note on February 12, 2021, to Underweight and set the price objective to $18. In their research brief published January 29, 2021, Wolfe Research analysts upgraded the Lordstown Motors Corp. stock from Underperform to Peer Perform with a price target of $27.
Historical Earnings Surprises and Revenue Forecasts
Profit is the most critical financial performance measure. Every investor in a business is looking forward to the earnings report as stock price to increase when earnings exceed market expectations and progressively decrease when earnings do not meet expectations. The firm reported an earnings per share (EPS) of -$0.23 during the last quarter as opposed to a consensus estimate of -$0.1, which indicates the company missed its estimate by -$0.13, which implies that the company surprised the market by -130.00%. It appears that the average earnings per share estimate for the current quarter (ending in Mar 2021) is -$0.28. This is an average of 4 analysts’ earnings, where the high earnings per share estimate is -$0.25 and the low earnings per share estimate is -$0.31.
The latest trade, Performances and Moving Averages give us the following Picture
The share price of Lordstown Motors Corp. (NASDAQ:RIDE) raised 0.94% to close Monday’s market session at $9.67, higher as compared to yesterday’s close. The stock price fluctuated between $9.20 and $9.9698 throughout the trading session with the volume trading being 8730514 shares, which represented a significant variation when compared to the three months average volume of 9.83 million shares. The firm’s stock price fluctuated 15.12% within the last five trades and -2.72% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price decreased -61.99% in the last 6 months and -50.89% was subtracted to its value over the previous 3 months. RIDE stock is trading at a margin of 7.61%, -9.65% and -48.14% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
As of the close of trading, RIDE deals in the Consumer Cyclical domain. The stock is trading -69.59 percent below its 52-week high and 44.54 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is -58.83. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Lordstown Motors Corp.’s Profitability and Valuation Ratios Tell Us About the Stock?
The stock’s market cap achieved a total value of $1.73 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The firm managed a Price-to-Book ratio of 2.19, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 0.10 percent of Lordstown Motors Corp. shares are owned by insiders, and 22.50 percent are held by financial institutions. Rodriguez Julio C., the Chief Financial Officer at Lordstown Motors Corp. (RIDE) has sold 9,300 shares of firm on Feb 04 at a price of $27.00 against the total amount of $0.25 million. In another inside trade, Post Darren, Vice President of Engineering of Lordstown Motors Corp. (NASDAQ:RIDE) sold 10,000 shares of the firm on Feb 04 for a total worth of $0.27 million at a price of $27.21. An inside trade which took place on Feb 03, President of Lordstown Motors Corp. Schmidt Phil Richard sold 50,000 shares of firm against total price of $1.37 million at the cost of $27.44 per share.