Lordstown Motors Corp. RIDE shares are trading lower after analysts at Wolfe Research downgraded their recommendation on the stock from Peer Perform to Underperform and lowered their price target from $18 to $1.
Lordstown Motors Corp is an automotive company founded for the purpose of developing and manufacturing light duty electric trucks targeted for sale to fleet customers. The company has been developing its flagship vehicle, the Endurance, an electric full-size pickup truck.
Lordstown Motors' shares were trading 8% lower at $10.54 per share on Thursday at the time of publication. The stock has a 52-week high of $31.80 and a 52-week low of $6.69.
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