I recommend waiting for a better discount before investing in Lordstown Motors Corp. (RIDE).

After finishing at $0.78 in the prior trading day, Lordstown Motors Corp. (NASDAQ: RIDE) closed at $0.79, up 1.48%. In other words, the price has increased by $+0.0115 from its previous closing price. On the day, 4717835 shares were traded. RIDE stock price reached its highest trading level at $0.8242 during the session, while it also had its lowest trading level at $0.7724.

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Our goal is to gain a better understanding of RIDE by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 3.50 and its Current Ratio is at 3.70. In the meantime, Its Debt-to-Equity ratio is 0.00 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, R. F. Lafferty on May 10, 2022, Downgraded its rating to Sell and sets its target price to $1 from $4 previously.

On November 12, 2021, R. F. Lafferty Upgraded its rating to Hold which previously was Sell and also upped its target price recommendation from $3 to $7.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Jan 06 when Burns Stephen S. sold 5,000,000 shares for $0.87 per share. The transaction valued at 4,350,000 led to the insider holds 21,683,745 shares of the business.

Burns Stephen S. sold 1,169,000 shares of RIDE for $2,080,820 on Nov 15. The 10% Owner now owns 26,683,745 shares after completing the transaction at $1.78 per share. On Nov 14, another insider, Burns Stephen S., who serves as the 10% Owner of the company, sold 650,000 shares for $1.73 each. As a result, the insider received 1,124,500 and left with 27,852,745 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 951.16 while its Price-to-Book (P/B) ratio in mrq is 0.51.

Stock Price History:

Over the past 52 weeks, RIDE has reached a high of $3.79, while it has fallen to a 52-week low of $0.76. The 50-Day Moving Average of the stock is 1.1534, while the 200-Day Moving Average is calculated to be 1.6638.

Shares Statistics:

The stock has traded on average 4.63M shares per day over the past 3-months and 5.23M shares per day over the last 10 days, according to various share statistics. A total of 225.29M shares are outstanding, with a floating share count of 179.19M. Insiders hold about 12.40% of the company’s shares, while institutions hold 28.10% stake in the company. Shares short for RIDE as of Jan 12, 2023 were 40.17M with a Short Ratio of 37.32M, compared to 40.45M on Dec 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 17.47% and a Short% of Float of 17.69%.

Earnings Estimates

Its stock is currently analyzed by 2 different market analysts. On average, analysts expect EPS of -$0.27 for the current quarter, with a high estimate of -$0.26 and a low estimate of -$0.29, while EPS last year was -$0.42. The consensus estimate for the next quarter is -$0.32, with high estimates of -$0.32 and low estimates of -$0.32.

Analysts are recommending an EPS of between -$1.1 and -$1.28 for the fiscal current year, implying an average EPS of -$1.19. EPS for the following year is -$1.4, with 3 analysts recommending between -$1.35 and -$1.45.

Revenue Estimates

Based on 3 analysts’ estimates, the company’s revenue will be $48.86M in the next fiscal year. The high estimate is $60M and the low estimate is $30.3M. The average revenue growth estimate for next year is up 2,526.90% from the average revenue estimate for this year.