68 institutions hold shares in Lordstown Motors Corp. (RIDE), with 70.2M shares held by insiders accounting for 39.75% while institutional investors hold 10.29% of the company’s shares. The shares outstanding are 164.95M, and float is at 102.54M with Short Float at 12.36%. Institutions hold 6.20% of the Float.
The top institutional shareholder in the company is FMR, LLC with over 10.43 million shares valued at $209.29 million. The investor’s holdings represent 5.91% of the RIDE Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 8.23 million shares valued at $165.1 million to account for 4.66% of the shares outstanding. The other top investors are Invesco Ltd. which holds 2.11 million shares representing 1.20% and valued at over $42.39 million, while Blackrock Inc. holds 0.93% of the shares totaling 1.64 million with a market value of $32.95 million.
Lordstown Motors Corp. (NASDAQ: RIDE) is -43.47% lower on its value in year-to-date trading and has touched a low of $9.80 and a high of $31.80 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The RIDE stock was last observed hovering at around $11.87 in the last trading session, with the day’s loss setting it -0.53% off its average median price target of $29.00 for the next 12 months. It is also 71.65% off the consensus price target high of $40.00 offered by 5 analysts, but current levels are 5.5% higher than the price target low of $12.00 for the same period.
Currently trading at $11.34, the stock is -27.24% and -46.42% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.35 million and changing -4.47% at the moment leaves the stock -39.55% off its SMA200. RIDE registered 12.06% gain for a year compared to 6-month loss of -52.53%. The firm has a 50-day simple moving average (SMA 50) of $19.29 and a 200-day simple moving average (SMA200) of $21.76.
The stock witnessed a -41.37% gain in the last 1 month and extending the period to 3 months gives it a -47.84%, and is -14.93% 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 10.33% over the week and 10.11% over the month.
Distance from 52-week low is 15.71% and -64.34% from its 52-week high.
Lordstown Motors Corp. (RIDE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Lordstown Motors Corp. (RIDE) is a “Overweight”. 5 analysts offering their recommendations for the stock have an average rating of 2.40, where 1 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.
Lordstown Motors Corp. quarterly earnings per share for the current quarter are estimated at -$0.29.The EPS is expected to shrink by -68.30% this year.
Lordstown Motors Corp. (RIDE) Insider Activity
The most recent transaction is an insider sale by Rodriguez Julio C., the company’s Chief Financial Officer. SEC filings show that Rodriguez Julio C. sold 9,300 shares of the company’s common stock on Feb 04 at a price of $27.00 per share for a total of $0.25 million. Following the sale, the insider now owns 34080.0 shares.
Lordstown Motors Corp. disclosed in a document filed with the SEC on Feb 04 that Post Darren (Vice President of Engineering) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Feb 04 and was made at $27.21 per share for $0.27 million. Following the transaction, the insider now directly holds 0.0 shares of the RIDE stock.
Still, SEC filings show that on Feb 03, Schmidt Phil Richard (President) disposed off 50,000 shares at an average price of $27.44 for $1.37 million. The insider now directly holds 9,366 shares of Lordstown Motors Corp. (RIDE).