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Lordstown Motors Corp. (RIDE) Outpaces Stock Market Gains: What You Should Know

Lordstown Motors Corp. (RIDE) closed the most recent trading day at $1.15, moving +1.77% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.75%. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, added 10.36%.

Prior to today's trading, shares of the company had lost 26.14% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 24.84% and the S&P 500's loss of 5.98% in that time.

Investors will be hoping for strength from Lordstown Motors Corp. as it approaches its next earnings release. On that day, Lordstown Motors Corp. is projected to report earnings of -$0.26 per share, which would represent year-over-year growth of 38.1%.

Any recent changes to analyst estimates for Lordstown Motors Corp. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Lordstown Motors Corp. is holding a Zacks Rank of #4 (Sell) right now.

The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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Lordstown Motors Corp. (RIDE) : Free Stock Analysis Report

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