RMO stock is dropping. Romeo Power stock has fallen 78 percent from its peak. One of the reasons is the overall sell-off in EV and growth stocks as a result of the rotation in equity markets from growth to value.
Is Romeo power stock a reset after Tuesday's Big Run?
I think it's nothing more than a reset after Tuesday's huge run. Auto investors should note that as of 2:45 p.m. EDT, Romeo Power's stock price was still up about 31% from where it closed on Monday before the deal was announced.
Can Romeo power (RMO) stock run higher on electric cars?
Gradually, though, Romeo Power’s EV batteries — which claim a 25% energy density advantage over the competition — could tip the scale holistically toward electric cars. With more dense power packs, EVs will have greater range, making anxiety on the topic an afterthought. As well, this will be huge for RMO stock.
Will the Peterbilts'deal with Romeo power boost its revenue?
The deal, which will run through 2025, could represent a significant revenue flow for Romeo Power if the battery-operated Peterbilts catch on. But that revenue won't start flowing immediately: Romeo Power said that it doesn't expect to begin shipping battery packs for the new Peterbilts until sometime after the end of 2021.
What's going on with Romeo power's modular battery packs?
The company has been working to ramp-up production of its modular battery packs for electric-heavy vehicles, but it only secured a long-term supply of battery cells last week. (Romeo Power hasn't named its supplier.) Big-rig stalwart Peterbilt is among the companies waiting for Romeo Power's battery packs for its new range of BEV trucks.
Is Romeo Power a good investment?
Is ROMEO POWER Stock a good buy in 2022, according to Wall Street analysts? The consensus among 1 Wall Street analyst covering (NYSE: RMO) stock is to Hold RMO stock.
Is Romeo Power making money?
Based on the Company's current backlog and commercial outlook, Romeo Power offered the following outlook for fiscal year 2022 ending December 31, 2022: Total Revenue to range between $40 million to $50 million.
How much of Romeo Power is shorted?
Romeo Power currently has a short interest ratio of 4.0. Learn More on Romeo Power's short interest ratio.
Who invested in Romeo Power?
INDIANAPOLIS, IN – August 2, 2019 – HG Ventures today announced its investment in Romeo Power Technology, an industry leader in sustainable power systems for electric vehicles (EV).
How many employees does Romeo power have?
Company Growth (employees)Employees (est.) (Feb 2021)151(+6%)Job Openings18Website Visits (Feb 2022)44.5 kRevenue (FY, 2020)$9 M(+6%)Share Price (May 2022)$0.81 more row
Is RMO a good company?
RMO has an overall F rating, which equates to a Strong Sell in our proprietary POWR Ratings system.
Should I sell Romeo Power stock?
2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Romeo Power in the last twelve months. There are currently 2 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" Romeo Power stock.
How many shares does Romeo power have?
151.23 million sharesShare Statistics Romeo Power has 151.23 million shares outstanding.
Who is shorting Romeo power?
EV's Most-Shorted Stocks to Buy: Romeo Power (RMO) Shares of RMO harbor short-interest of 30%. And to be fair, the bears have been on the right side of trade in 2021. The stock has surrendered 83% and is just off all-time-lows struck earlier this month.
When did Romeo Power go public?
Romeo Power raised approximately $394 million (~₹28.8 billion) in equity funding. The decision was arrived at a special meeting held by the stockholders of RMG on December 28, 2020. Romeo Power's shares of common stock will trade on the New York Stock Exchange under the ticker symbol 'RMO.
What does Romeo power do?
Romeo Power offers custom electrification solutions for the commercial vehicle industry spanning from Class 3 delivery vehicles to the largest, long-haul Class 8 vehicles.
Is RMO a SPAC?
Lionel Selwood Jr., Romeo CEO, joins Yahoo Finance's Zack Guzman and Akiko Fujita to discuss his company, its listing on the NYSE under 'RMO' via a SPAC, and to break down the new merger with RMG Acquisition Corp. ZACK GUZMAN: It's been a very busy year for IPOs as we highlighted here in 2020.
What happened
Shares of Romeo Power (NYSE: RMO) are sinking amid a day of sell-offs for the broader market. The electric vehicle-focused battery-technology stock was down roughly 10.7% in the daily trading session as of 3:30 p.m. ET on Tuesday, while the S&P 500 index's level had slipped roughly 1.7%.
So what
Romeo Power's recent press release stated that Anne Devine will take over the COO position roughly a month from today. As the new COO, she will manage operating and production capabilities, and expansion initiatives. Choi is set to remain in the role for a four-week transitional period.
Now what
Romeo Power was taken public through a special purpose acquisition company (SPAC) merger late in December 2020. The stock is now down roughly 91% since market close on the day of the merger and 87% over the last year.
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This company may not be what it appears to be
John Rosevear is the senior auto specialist for Fool.com. John has been writing about the auto business and investing for over 20 years, and for The Motley Fool since 2007. Follow @john__rosevear
What happened
Shares of Romeo Power ( NYSE:RMO) were down sharply again on Thursday afternoon. The company's stock has been sliding since it reported on Monday that its second-quarter revenue fell short of Wall Street's estimates.
So what
There were two things in Romeo Power's Monday earnings report that might have together triggered the sell-off. First, it was a big miss: Wall Street analysts polled by Thomson Reuters had expected revenue of $2.37 million, but Romeo generated just $926,000.
Now what
Meanwhile, a look at new CEO Brennan's resume suggests that she might turn out to be a terrific hire. She most recently served as chief operating officer of fuel-cell maker Bloom Energy, which she joined after stints at Nissan Motor -- where she managed an electric-vehicle factory -- and Ford Motor Company.
Key Points
The company's revenue miss was about the timing of its production start, the CFO said.
NYSE: RMO
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What happened
Shares of Romeo Power ( RMO -5.18% ) were down sharply on Tuesday morning after the company reported second-quarter revenue that fell far short of Wall Street's estimate. As of 10:30 a.m. EDT, Romeo Power's shares were down about 19.6% from Monday's closing price.
So what
Romeo Power reported its second-quarter results after the U.S. markets closed on Monday, and they weren't what Wall Street had expected. The company said that it lost $28.7 million, or $0.22 per share, on revenue of $926,000.
NYSE: RMO
Big-rig stalwart Peterbilt is among the companies waiting for Romeo Power's battery packs for its new range of BEV trucks. Image source: PACCAR.
Now what
At least one analyst is maintaining his upbeat rating on Romeo Power's shares, though he did trim his bank's price target. In a note on Tuesday morning, BTIG analyst Gregory Lewis cut his price target to $12 from $15, while maintaining a buy rating and noting that the company will need a "strong finish" to hit its full-year guidance range.
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Why is Romeo Power stock down?
Simply put, the stock is down today because the year-over-year revenue growth that the company had told us to expect ...
How much revenue will Romeo Power make in 2021?
In a preliminary earnings statement released after the markets closed Tuesday, Romeo Power said that it generated $9 million of revenue in 2020, and that it expected its 2021 revenue to come in between $18 million and $40 million.
Is it good to take financial projections with several grains of salt?
This is a good reminder to investors to take financial projections with several grains of salt, particularly around start-ups in the electric-vehicle space. It's one thing to predict huge growth, and another thing entirely to actually deliver that growth.
Why is Romeo Power stock falling?
One of the reasons is the overall sell-off in EV and growth stocks as a result of the rotation in equity markets from growth to value. The soaring valuations have led to pressure on high-growth EV stocks. In addition, the surge in interest rates has made growth stocks less appealing to investors, which impacts RMO.
How much will Romeo make in 2021?
Now, Romeo expects its sales for 2021 to be between $18 million and $40 million. Article continues below advertisement. In a presentation to investors in November 2020, Romeo projected that it would generate sales of $11 million in 2020 and $140 million in 2021.
Is RMO stock a good investment?
RMO stock looks like a good investment. Batteries are a critical component of an EV. Under the Biden administration, EV sales are projected to surge. As a result, Romeo’s top line could increase as customers transition to zero-emissions vehicles.
Will RMO stock recover?
RMO stock will recover. RMO stock will recover based on the growth outlook for Romeo Power. It’s possible that the battery cell shortage is holding Rom eo Power back in the near term and that it will continue to deliver on its roadmap and succeed over the next few years.
When did Romeo Power go public?
Whether or Not to Buy the Dip in Romeo Power (RMO) Stock. The RMG Acquisition SPAC took Romeo Power (RMO) public in December 2020. The transaction closed on December 29, 2020. The ticker symbol change from "RMG" to "RMO" became effective on December 30, 2020, on the NYSE. Since then, the stock’s performance has been volatile.
When did RMG change to RMO?
The ticker symbol change from "RMG" to "RMO" became effective on December 30, 2020, on the NYSE. Since then, the stock’s performance has been volatile. Lately, the price has been falling. The stock is down 62 percent YTD and 78 percent from its 52-week high. Article continues below advertisement.
A new deal with big-rig maker PACCAR could open the door to bigger things
John Rosevear is the senior auto specialist for Fool.com. John has been writing about the auto business and investing for over 20 years, and for The Motley Fool since 2007. Follow @john__rosevear
What happened
Shares of Romeo Power ( NYSE:RMO), which provides electric truck battery packs, were sharply higher on Tuesday, after the company announced a new long-term deal to supply battery packs to heavy-truck giant PACCAR ( NASDAQ:PCAR), owner of the Kenworth, Peterbilt, and DAF truck brands.
So what
Under the deal, Romeo Power will provide battery packs, modules, and battery management systems for two new battery-electric trucks from PACCAR's Peterbilt brand through 2025, the companies said in a statement on Tuesday.
Now what
The companies' announcement on Tuesday said that production of the two trucks will begin "after 2021." PACCAR had said previously that the 520EV would launch later this year, but the COVID-19 pandemic and an ongoing global shortage of automotive-grade semiconductors may have slowed the development process.
