On April 26, 2023 at 10:30:04 ET an unusually large $30.00K block of Call contracts in Lordstown Motors – (RIDE) was bought, with a strike price of $0.50 / share, expiring in 632 day(s) (on January 17, 2025). Fintel tracks all large options trades, and the premium spent on this trade was 1.00 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in RIDE options.
This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.
What is the Fund Sentiment?
There are 255 funds or institutions reporting positions in Lordstown Motors -. This is a decrease of 4 owner(s) or 1.54% in the last quarter. Average portfolio weight of all funds dedicated to RIDE is 0.02%, an increase of 11.28%. Total shares owned by institutions decreased in the last three months by 4.77% to 59,494K shares. The put/call ratio of RIDE is 0.13, indicating a bullish outlook.
Analyst Price Forecast Suggests 550.51% Upside
As of April 24, 2023, the average one-year price target for Lordstown Motors – is $3.19. The forecasts range from a low of $0.50 to a high of $10.50. The average price target represents an increase of 550.51% from its latest reported closing price of $0.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lordstown Motors – is $50MM, an increase of 25,588.14%. The projected annual non-GAAP EPS is -$1.43.
What are Other Shareholders Doing?
Register Financial Advisors holds 9K shares representing 0.00% ownership of the company.
VARIABLE INSURANCE PRODUCTS FUND II – Total Market Index Portfolio Initial Class holds 2K shares representing 0.00% ownership of the company. No change in the last quarter.
Jane Street Group holds 294K shares representing 0.12% ownership of the company. In it’s prior filing, the firm reported owning 200K shares, representing an increase of 31.77%. The firm decreased its portfolio allocation in RIDE by 3.35% over the last quarter.
State Street holds 4,930K shares representing 2.06% ownership of the company. No change in the last quarter.
IFP Advisors holds 4K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 5K shares, representing a decrease of 22.53%. The firm increased its portfolio allocation in RIDE by 133,041.74% over the last quarter.
Lordstown Motors Background Information
(This description is provided by the company.)
Lordstown Motors Corp. is an Ohio-based original equipment manufacturer of light duty fleet vehicles, founded by CEO Steve Burns with the purpose of transforming Ohio’s Mahoning Valley and Lordstown, Ohio, into the epicenter of electric-vehicle manufacturing. The company owns the 785 acre, 6.2 million square foot Lordstown Assembly Plant where it plans to build the Lordstown Endurance, believed to be the world’s first full-size,all-electric pickup truck designed to serve the commercial fleet market.
See all Lordstown Motors – regulatory filings.
This article originally appeared on Fintel
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