Lordstown Motors Corp. (NASDAQ:RIDE) shares traded -5.30% lower at $0.28 on Wall Street last session.
As we calculate the median target price by taking the range between a high of $1.00 and a low of $0.03, we find $0.52. Given the previous closing price of $0.30, this indicates a potential upside of 73.33 percent. RIDE stock price is now -46.20% away from the 50-day moving average and -78.55% away from the 200-day moving average. The market capitalization of the company currently stands at $74.80M.
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Brokers who have rated the stock have averaged $0.52 as their price target over the next twelve months.
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In other news, Burns Stephen S., 10% Owner sold 5,000,000 shares of the company’s stock on Jan 06. The stock was sold for $4,350,000 at an average price of $0.87. Upon completion of the transaction, the 10% Owner now directly owns 21,683,745 shares in the company, valued at $6.07 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 15, 10% Owner Burns Stephen S. sold 1,169,000 shares of the business’s stock. A total of $2,080,820 was realized by selling the stock at an average price of $1.78. This leaves the insider owning 26,683,745 shares of the company worth $7.47 million. Insiders disposed of 13,955,386 shares of company stock worth roughly $3.91 million over the past 1 year. A total of 12.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RIDE stock. A new stake in Lordstown Motors Corp. shares was purchased by RENAISSANCE TECHNOLOGIES LLC during the first quarter worth $790,000. ERGOTELES LLC invested $244,000 in shares of RIDE during the first quarter. In the first quarter, CUBIST SYSTEMATIC STRATEGIES, LLC acquired a new stake in Lordstown Motors Corp. valued at approximately $184,000. HRT FINANCIAL LP acquired a new stake in RIDE for approximately $124,000. EXODUSPOINT CAPITAL MANAGEMENT, LP purchased a new stake in RIDE valued at around $92,000 in the second quarter. In total, there are 191 active investors with 28.10% ownership of the company’s stock.
Lordstown Motors Corp. (NASDAQ: RIDE) opened at $0.2700 on Tuesday. During the past 12 months, Lordstown Motors Corp. has had a low of $0.25 and a high of $3.73. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.30, and a quick ratio of 3.20. The fifty day moving average price for RIDE is $0.5183 and a two-hundred day moving average price translates $1.3131 for the stock.
The latest earnings results from Lordstown Motors Corp. (NASDAQ: RIDE) was released for Mar, 2023. According to the Auto Manufacturers Company, earnings per share came in at -$0.71, missing analysts’ expectations of -$0.22 by -0.49. This compares to -$0.46 EPS in the same period last year. For the current quarter, analysts expect RIDE to generate $190k in revenue.
Lordstown Motors Corp.(RIDE) Company Profile
Lordstown Motors Corp. develops, manufactures, and sells Endurance, an electric full-size pickup truck for fleet customers in the United States. Lordstown Motors Corp. was incorporated in 2018 and is based in Lordstown, Ohio.
