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Lordstown Motors Corp. (RIDE) Volatility At 9.01%, Should You Add A Position?

Lordstown Motors Corp. (NASDAQ: RIDE) is -32.36% lower on its value in year-to-date trading and has touched a low of $0.71 and a high of $3.79 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 $0.74 in the last trading session, with the day’s gains setting it 0.03% off its average median price target of $0.88 for the next 12 months. It is also 23.0% off the consensus price target high of $1.00 offered by 3 analysts, but current levels are -2.67% lower than the price target low of $0.75 for the same period.

Currently trading at $0.77, the stock is -25.70% and -32.68% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.35 million and changing 3.67% at the moment leaves the stock -53.49% off its SMA200. RIDE registered -64.79% loss for a year compared to 6-month loss of -63.97%.

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The stock witnessed a -39.28% gain in the last 1 month and extending the period to 3 months gives it a -42.88%, and is -8.53% 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 9.01% over the week and 8.53% over the month.

Lordstown Motors Corp. (RIDE) has around 260 employees, a market worth around $186.08M and $0.20M in sales. Distance from 52-week low is 7.85% and -79.65% from its 52-week high. The company has generated returns on investments over the last 12 months (-110.10%).

Lordstown Motors Corp. (RIDE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Lordstown Motors Corp. (RIDE) is a “Underweight”. 3 analysts offering their recommendations for the stock have an average rating of 3.70, where 2 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Lordstown Motors Corp. is expected to release its quarterly report on 05/22/2023.The EPS is expected to grow by 40.40% this year

Lordstown Motors Corp. (RIDE) Top Institutional Holders

The shares outstanding are 225.29M, and float is at 179.19M with Short Float at 20.83%.

Lordstown Motors Corp. (RIDE) Insider Activity

A total of 16 insider transactions have happened at Lordstown Motors Corp. (RIDE) in the last six months, with sales accounting for 9 and purchases happening 7 times. The most recent transaction is an insider sale by Burns Stephen S., the company’s 10% Owner. SEC filings show that Burns Stephen S. sold 5,000,000 shares of the company’s common stock on Jan 06 at a price of $0.87 per share for a total of $4.35 million. Following the sale, the insider now owns 21.68 million shares.

Lordstown Motors Corp. disclosed in a document filed with the SEC on Nov 15 that Burns Stephen S. (10% Owner) sold a total of 1,169,000 shares of the company’s common stock. The trade occurred on Nov 15 and was made at $1.78 per share for $2.08 million. Following the transaction, the insider now directly holds 26.68 million shares of the RIDE stock.

Still, SEC filings show that on Nov 14, Burns Stephen S. (10% Owner) disposed off 650,000 shares at an average price of $1.73 for $1.12 million. The insider now directly holds 27,852,745 shares of Lordstown Motors Corp. (RIDE).

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