Analysts expect that Lordstown Motors Corp. (NASDAQ:RIDE) will post ($0.25) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Lordstown Motors' earnings. The firm is scheduled to report its next quarterly earnings results on Wednesday, June 16th.
On average, analysts expect that Lordstown Motors will report full-year earnings of ($1.71) per share for the current fiscal year, with EPS estimates ranging from ($1.81) to ($1.60). For the next financial year, analysts expect that the company will post earnings of ($1.17) per share, with EPS estimates ranging from ($1.64) to ($0.70). Zacks Investment Research's earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Lordstown Motors.
Lordstown Motors (NASDAQ:RIDE) last issued its quarterly earnings results on Tuesday, March 16th. The company reported ($0.23) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.10) by ($0.13).
RIDE has been the topic of a number of recent analyst reports. BTIG Research reduced their target price on Lordstown Motors from $50.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, March 18th. Zacks Investment Research cut Lordstown Motors from a "hold" rating to a "sell" rating in a report on Wednesday, April 14th. The Goldman Sachs Group cut Lordstown Motors from a "buy" rating to a "neutral" rating and decreased their price target for the company from $21.00 to $10.00 in a research note on Thursday. Morgan Stanley cut their price target on Lordstown Motors from $18.00 to $12.00 and set an "underweight" rating on the stock in a report on Wednesday, March 24th. Finally, Wolfe Research raised Lordstown Motors from an "underperform" rating to a "peer perform" rating and raised their target price for the stock from $14.00 to $27.00 in a research report on Friday, January 29th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of "Hold" and an average price target of $21.71.
In other news, VP Chuan D. Vo sold 100,000 shares of the business's stock in a transaction on Tuesday, February 2nd. The shares were sold at an average price of $25.21, for a total transaction of $2,521,000.00. Following the transaction, the vice president now directly owns 717 shares of the company's stock, valued at $18,075.57. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Darren Post sold 10,000 shares of the business's stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $27.21, for a total transaction of $272,100.00. Following the sale, the vice president now owns 10,000 shares of the company's stock, valued at approximately $272,100. The disclosure for this sale can be found here. In the last quarter, insiders have sold 349,820 shares of company stock valued at $8,848,815.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ellsworth Advisors LLC raised its stake in shares of Lordstown Motors by 2.4% in the 1st quarter. Ellsworth Advisors LLC now owns 57,301 shares of the company's stock valued at $674,000 after buying an additional 1,318 shares in the last quarter. Strategic Wealth Management Inc. acquired a new stake in shares of Lordstown Motors in the fourth quarter valued at approximately $58,000. IFP Advisors Inc bought a new position in Lordstown Motors during the fourth quarter worth $70,000. Ancora Advisors LLC bought a new stake in shares of Lordstown Motors in the fourth quarter valued at about $75,000. Finally, Inspire Advisors LLC acquired a new position in Lordstown Motors in the fourth quarter valued at about $106,000. 12.59% of the stock is owned by institutional investors and hedge funds.
Shares of RIDE traded up $0.28 during mid-day trading on Monday, hitting $10.22. The company's stock had a trading volume of 5,725,552 shares, compared to its average volume of 9,749,964. The business has a 50-day moving average of $12.40. Lordstown Motors has a one year low of $8.79 and a one year high of $31.80.
Lordstown Motors Company Profile
Lordstown Motors Corp., an automotive company, develops, manufactures, and sells light duty electric trucks targeted for sale to fleet customers. It primarily develops Endurance, an electric full-size pickup truck. Lordstown Motors Corp. was founded in 2019 and is based in Lordstown, Ohio.
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