Investment House LLC Buys New Position in Lordstown Motors Corp. (NASDAQ:RIDE)


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Investment House LLC bought a new stake in shares of Lordstown Motors Corp. (NASDAQ:RIDE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 40,310 shares of the company’s stock, valued at approximately $809,000.

In other Lordstown Motors news, VP Chuan D. Vo sold 7,800 shares of the stock in a transaction that occurred on Monday, December 14th. The stock was sold at an average price of $20.00, for a total transaction of $156,000.00. Following the transaction, the vice president now owns 191,217 shares in the company, valued at $3,824,340. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Phil Richard Schmidt sold 51,900 shares of the stock in a transaction that occurred on Friday, December 11th. The stock was sold at an average price of $20.29, for a total value of $1,053,051.00. Following the transaction, the president now owns 20,878 shares in the company, valued at approximately $423,614.62. The disclosure for this sale can be found here. Insiders sold 74,700 shares of company stock worth $1,520,301 in the last 90 days.

Several research analysts recently issued reports on RIDE shares. Wolfe Research began coverage on Lordstown Motors in a research report on Wednesday, December 9th. They set an “underperform” rating and a $14.00 target price on the stock. Vertical Research began coverage on Lordstown Motors in a report on Friday, November 20th. They issued a “sell” rating and a $15.00 price objective on the stock. The Goldman Sachs Group began coverage on Lordstown Motors in a report on Friday, December 11th. They issued a “buy” rating and a $31.00 price objective on the stock. Finally, R. F. Lafferty began coverage on Lordstown Motors in a report on Tuesday, December 22nd. They issued a “buy” rating and a $35.00 price objective on the stock.

Shares of RIDE opened at $25.82 on Thursday. Lordstown Motors Corp. has a 52 week low of $9.50 and a 52 week high of $31.80. The business has a 50-day moving average of $22.03.

Lordstown Motors 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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