Lordstown Motors Corp. (NASDAQ: RIDE) stock fell -12.47% on Wednesday to $3.73 against a previous-day closing price of $4.26. With 1.67 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.38 million shares. During the session, the Auto Manufacturers company that operates in wider Consumer Cyclical sector, reached to the highest price of $4.9700 whereas the lowest price it dropped to was $3.6050. The 52-week range on RIDE shows that it touched its highest point at $55.95 and its lowest point at $3.77 during that stretch. It currently has a 1-year price target of $2.00. Beta for the stock currently stands at 1.30.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RIDE was down-trending over the past week, with a drop of -15.85%, but this was down by -49.25% over a month. Three-month performance dropped to -77.19% while six-month performance fell -82.24%. The stock lost -88.04% in the past year, while it has lost -78.19% so far this year. A look at the trailing 12-month EPS for RIDE yields -1.58 with Next year EPS estimates of -1.56. For the next quarter, that number is -0.26. This implies an EPS growth rate of 40.30% for this year and -3.30% for next year.
Float and Shares Shorts:
At present, 239.75 million RIDE shares are outstanding with a float of 179.13 million shares on hand for trading. On Apr 27, 2023, short shares totaled 2.79 million, which was 17.53% higher than short shares on Mar 30, 2023. In addition to Mr. Daniel A. Ninivaggi as the firm’s Exec. Chairman, Mr. Edward T. Hightower serves as its Pres, CEO & Director.
Through their ownership of 24.21% of RIDE’s outstanding shares, institutional investors have minority control over the company. Other institutions hold — of RIDE, in contrast to — held by mutual funds. Shares owned by individuals account for –.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, RIDE reported revenue of $0.00 and operating income of -$40.45M. The EBITDA in the recently reported quarter was -$142.19M and diluted EPS was $0.32.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RIDE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With RIDE analysts setting a high price target of $15.00 and a low target of $0.45, the average target price over the next 12 months is $7.73. Based on these targets, RIDE could surge 302.14% to reach the target high and fall by -87.94% to reach the target low. Reaching the average price target will result in a growth of 107.24% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded RIDE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 701,497 while 13,955,386 shares were sold.