In Monday’s session, Romeo Power Inc. (NYSE:RMO) marked $0.70 per share, up from $0.55 in the previous session. While Romeo Power Inc. has overperformed by 26.93%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RMO fell by -90.10%, with highs and lows ranging from $7.44 to $0.44, whereas the simple moving average fell by -68.12% in the last 200 days.
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On March 02, 2022, BTIG Research Downgraded Romeo Power Inc. (NYSE: RMO) to Neutral. A report published by Cowen on October 27, 2021, Downgraded its rating to ‘Market Perform’ for RMO. Cowen also rated RMO shares as ‘Outperform’, setting a target price of $18 on the company’s shares in an initiating report dated March 09, 2021. Morgan Stanley Initiated an Underweight rating on February 12, 2021, and assigned a price target of $12.
Analysis of Romeo Power Inc. (RMO)
Further, the quarter-over-quarter increase in sales is 954.50%, showing a positive trend in the upcoming months.
Romeo Power Inc.’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. Taking into account the quick ratio of the company, currently set at 2.90, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and RMO has an average volume of 7.28M. On a monthly basis, the volatility of the stock is set at 11.99%, whereas on a weekly basis, it is put at 10.89%, with a gain of 40.77% over the past seven days. Furthermore, long-term investors anticipate a median target price of $1.80, showing growth from the present price of $0.70, which can serve as yet another indication of whether RMO is worth investing in or should be passed over.
How Do You Analyze Romeo Power Inc. Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 11.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 41.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in RMO shares?
The recent increase in stakes in RMO appears to be a result of several institutional investors and hedge funds increasing their positions. Invesco Capital Management LLC’s position in RMO has increased by 113.77% in the first quarter. The company now owns 10,981,488 shares of the stock, with a value of $4.93 million, following the purchase of 5,844,399 additional shares during the last quarter. During the last quarter, the company dropped down 6,523,600 additional shares for a total stake of worth $2.93 million, bringing number of shares owned by the company to 6,523,600.
During the first quarter, The Vanguard Group, Inc. subtracted a -2,408,536 position in RMO. BlackRock Fund Advisors sold an additional -0.99 million shares in the last quarter, decreasing its holdings by -13.91%, now holding 6.12 million shares worth $2.75 million. At the end of the first quarter, D. E. Shaw & Co. LP increased its RMO holdings by 139.79% and now holds 3.99 million RMO shares valued at $1.79 million with the added 2.32 million shares during the period. RMO shares are owned by institutional investors to the tune of 41.80% at present.