Nisa Investment Advisors LLC Grows Stock Position in Lordstown Motors Corp. (NASDAQ:RIDE)

Nisa Investment Advisors LLC increased its holdings in shares of Lordstown Motors Corp. (NASDAQ:RIDEGet Rating) by 133.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,170 shares of the company’s stock after buying an additional 4,670 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Lordstown Motors were worth $28,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its holdings in shares of Lordstown Motors by 21.0% in the 4th quarter. Teacher Retirement System of Texas now owns 22,393 shares of the company’s stock worth $77,000 after purchasing an additional 3,890 shares during the period. Buckingham Strategic Wealth LLC purchased a new position in shares of Lordstown Motors in the 4th quarter worth about $35,000. IHT Wealth Management LLC purchased a new position in shares of Lordstown Motors in the 4th quarter worth about $35,000. Janney Montgomery Scott LLC purchased a new position in shares of Lordstown Motors in the 4th quarter worth about $35,000. Finally, First Trust Advisors LP raised its holdings in shares of Lordstown Motors by 39.6% in the 4th quarter. First Trust Advisors LP now owns 38,691 shares of the company’s stock worth $133,000 after purchasing an additional 10,970 shares during the period. 45.45% of the stock is currently owned by hedge funds and other institutional investors.

Lordstown Motors Price Performance

NASDAQ RIDE opened at $2.24 on Monday. The company has a market capitalization of $455.78 million, a price-to-earnings ratio of -1.10 and a beta of 1.00. Lordstown Motors Corp. has a 12 month low of $1.49 and a 12 month high of $8.93. The company’s fifty day moving average price is $1.86 and its two-hundred day moving average price is $2.39.

Lordstown Motors (NASDAQ:RIDEGet Rating) last issued its earnings results on Monday, May 9th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.03. During the same quarter last year, the firm earned ($0.72) EPS. As a group, analysts anticipate that Lordstown Motors Corp. will post -1.95 EPS for the current year.

Insiders Place Their Bets

In other Lordstown Motors news, EVP Jane Ritson-Parsons sold 36,193 shares of the stock in a transaction on Monday, June 13th. The shares were sold at an average price of $1.61, for a total transaction of $58,270.73. Following the sale, the executive vice president now directly owns 80,474 shares of the company’s stock, valued at $129,563.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on RIDE. R. F. Lafferty downgraded Lordstown Motors from a “hold” rating to a “sell” rating in a report on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft dropped their target price on Lordstown Motors from $3.00 to $2.00 in a report on Tuesday, May 10th. Five equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $3.79.

About Lordstown Motors

(Get Rating)

Lordstown Motors Corp. develops, manufactures, and sells Endurance, an electric full-size pickup truck for fleet customers. The company was founded in 2019 and is based in Lordstown, Ohio.

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Institutional Ownership by Quarter for Lordstown Motors (NASDAQ:RIDE)

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