Lordstown Motors (NASDAQ:RIDE) Shares Down 6.8%


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Lordstown Motors Corp. (NASDAQ:RIDE)’s share price dropped 6.8% on Thursday . The company traded as low as $20.02 and last traded at $20.06. Approximately 5,751,000 shares were traded during trading, an increase of 90% from the average daily volume of 3,030,908 shares. The stock had previously closed at $21.52.

A number of research analysts have recently issued reports on RIDE shares. 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 target price on the stock. Vertical Research assumed coverage on shares of Lordstown Motors in a research note on Friday, November 20th. They issued a “sell” rating and a $15.00 price objective on the stock. R. F. Lafferty started coverage on shares of Lordstown Motors in a research report on Tuesday, December 22nd. They set a “buy” rating and a $35.00 price objective for the company. Finally, Wolfe Research began coverage on shares of Lordstown Motors in a report on Wednesday, December 9th. They issued an “underperform” rating and a $14.00 target price on the stock.

In related news, VP Chuan D. Vo sold 15,000 shares of the business’s stock in a transaction dated Wednesday, December 16th. The shares were sold at an average price of $20.75, for a total transaction of $311,250.00. Following the sale, the vice president now owns 191,217 shares of the company’s stock, valued at $3,967,752.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Phil Richard Schmidt sold 51,900 shares of the company’s stock in a transaction dated Friday, December 11th. The stock was sold at an average price of $20.29, for a total transaction of $1,053,051.00. Following the transaction, the president now owns 20,878 shares in the company, valued at $423,614.62. The disclosure for this sale can be found here. In the last three months, insiders sold 74,700 shares of company stock valued at $1,520,301.

About Lordstown Motors (NASDAQ:RIDE)

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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