Lordstown Motors Corp. (RIDE) may enjoy gains as insiders got busy in the recent days


Lordstown Motors Corp.’s filing revealed that its CEO & PRESIDENT Hightower Edward T. acquired Company’s shares for reported $20600.0 on Aug 26. In the deal valued at $2.06 per share,10,000 shares were bought. As a result of this transaction, Hightower Edward T. now holds 10,000 shares worth roughly $ 18500.0.

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Then, Ritson-Parsons Jane sold 36,193 shares, generating $58,271 in total proceeds. Upon selling the shares at $1.61, the EVP, CHIEF COMMERCIAL OFFICER now owns 80,474 shares.

Before that, NINIVAGGI DANIEL A bought 15,400 shares. Lordstown Motors Corp. shares valued at $37,350 were divested by the CHIEF EXECUTIVE OFFICER at a price of $2.43 per share. As a result of the transaction, NINIVAGGI DANIEL A now holds 20,000 shares, worth roughly $37000.0.

R. F. Lafferty downgraded its Lordstown Motors Corp. [RIDE] rating to a Sell from a a Hold in a research note published on Monday, May 10, 2022; the price target was decreased to $1 from $4. PT values the company’s stock at a premium of -85.0 to its Monday closing price. A number of analysts have revised their coverage, including R. F. Lafferty’s analysts, who increased its forecast for the stock in mid November from “a Sell” to “a Hold”. BTIG Research also remained covering RIDE and has decreased its forecast on November 12, 2021 with a “Neutral” recommendation from previously “Buy” rating. Morgan Stanley revised its rating on October 05, 2021. It rated RIDE as “an Underweight” which previously was an “an Equal-weight”.

Price Performance Review of RIDE

On Monday, Lordstown Motors Corp. [NASDAQ:RIDE] saw its stock fall -4.15% to $1.85. On the same session, the stock had its day’s lowest price of $1.83, but rose to a high of $1.9697. Over the last five days, the stock has gained 2.21%. Lordstown Motors Corp. shares have fallen nearly -46.38% since the year began. Nevertheless, the stocks have fallen -66.96% over the past one year. While a 52-week high of $7.19 was reached on 01/03/22, a 52-week low of $1.49 was recorded on 06/16/22. SMA at 50 days reached $1.8525, while 200 days put it at $2.2491. A total of 4.46 million shares were traded, compared to the trading of 2.51 million shares in the previous session.

Levels Of Support And Resistance For RIDE Stock

The 24-hour chart illustrates a support level at 1.7968, which if violated will result in even more drops to 1.7435. On the upside, there is a resistance level at 1.9365. A further resistance level may holdings at 2.0229. The Relative Strength Index (RSI) on the 14-day chart is 52.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.1045, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.95%. Stochastics %K at 80.50% indicates the stock is a selling.

How much short interest is there in Lordstown Motors Corp.?

A steep rise in short interest was recorded in Lordstown Motors Corp. stocks on Jul 14, 2022, dropping by -1.66 million shares to a total of 46.55 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 48.21 million shares. There was a decline of -3.57%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 22.93% of the overall stock float, the days-to-cover ratio (short ratio) fell to 10.68.

Lordstown Motors Corp. [RIDE] – Who Are The Largest Shareholders?

In filings from Invesco Capital Management LLC, it is revealed that the company now owns 9,583,248 shares, or roughly 4.66% of the outstanding RIDE shares. In other words, the investor’s shares have risen by 2,417,196 from its previous 13-F filing of 7166052.0. Additionally, BlackRock Fund Advisors increased 5.51% of its stake after which the total value it holdings stand at $17,194,093, while The Vanguard Group, Inc. reduced -23.42% of its stake to hold $12.49 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 702,258 shares of Lordstown Motors Corp., while Millennium Management LLC bought 3,975,452 shares. At present, D. E. Shaw & Co. LP is holding 3,223,073 shares valued at $5.9 million. Geode Capital Management LLC owned 2,583,516 shares of the company at the time of its most recent 13F filing, worth $4.73 million.

According to FactSet, Lordstown Motors Corp.’s share price will average $1.50 in the next year, based on opinions of analysts polled by the firm. This is down nearly -22.28 percent from its previous closing price of $1.93. Analysts expect Lordstown Motors Corp. stock to reach the higher price of $2.00, while the lowest price estimate is $1.00. However, 3 analysts have rated RIDE stock as an Underweight in their predictions for 2022.


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