Why Romeo Power Inc. (RMO) Stock Could See Much Higher Prices Ahead

Romeo Power Inc. (NYSE: RMO) is -11.07% lower on its value in year-to-date trading and has touched a low of $9.50 and a high of $38.90 in the current 52-week trading range. The RMO stock was last observed hovering at around $20.89 in the last trading session, with the day’s loss setting it -0.89% off its average median price target of $35.00 for the next 12 months. It is also 50.0% off the consensus price target high of $40.00 offered by 2 analysts, but current levels are 33.33% higher than the price target low of $30.00 for the same period.

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Currently trading at $20.00, the stock is -13.32% and 20.98% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.25 million and changing -4.26% at the moment leaves the stock 69.78% off its SMA200. RMO registered 102.63% gain for a year compared to 6-month gain of 95.31%. The firm has a 50-day simple moving average (SMA 50) of $21.38 and a 200-day simple moving average (SMA200) of $15.80.

The stock witnessed a 8.64% loss in the last 1 month and extending the period to 3 months gives it a 93.24%, and is -11.07% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 15.59% over the week and 17.07% over the month.

Romeo Power Inc. (RMO) has around 5 employees, a market worth around $600.60M and $7.46M in sales. Current P/E ratio is 1538.46. Distance from 52-week low is 110.53% and -48.59% from its 52-week high.

Romeo Power Inc. (RMO) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Romeo Power Inc. (RMO) is a “Buy”. 2 analysts offering their recommendations for the stock have an average rating of 1.50, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Romeo Power Inc. quarterly earnings per share for the current quarter are estimated at -$0.18 with sales reaching $8M over the same period..

Romeo Power Inc. (RMO) Top Institutional Holders

57 institutions hold shares in Romeo Power Inc. (RMO), with 126.89M shares held by insiders accounting for 55.01% while institutional investors hold 196.53% of the company’s shares. The shares outstanding are 28.75M, and float is at 10.35M with Short Float at 27.20%. Institutions hold 88.41% of the Float.

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