Is Romeo power a good investment?
Romeo Power (RMO) Stock Is a Good Opportunity for Long-Term Investors. Romeo Power stock has been on a steady downtrend since it got listed after its reverse merger with RMG Acquisition SPAC in December 2020.
Why is Romeo Power stock so low?
Shares of Romeo Power (NYSE: RMO) dropped over 11% after the company delivered a disappointing earnings report. The company was already projecting slower revenue growth due to the global chip shortage. However, investors seem to be alarmed by the extent to which the company missed.
Is Romeo power making money?
Data source: Romeo Power. As of June 30, Romeo Power had $267.7 million in cash and equivalents, versus $287.5 million as of March 30….The raw numbers.
|Metric||Q2 2021||Q2 2020|
|Cost of revenue||$5.9 million||$2.4 million|
|Operating income (loss)||($29.7 million)||($5.34 million)|
What does Romeo power do?
Romeo Power analyzes virtually every cell on the market to identify the highest performing and most robust cells. By selecting those with superior performance, we are able to meet and exceed demanding commercial battery-electric vehicle requirements, enabling our customers to succeed.
Which is the best lithium battery stock to buy?
Best Lithium and Phosphate Stocks to Buy Now
- Lithium Americas Corp. (NYSE: LAC)
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Is RMO being shorted?
As of August 31st, traders have sold 25,130,000 shares of RMO short. 25.78% of Romeo Power’s shares are currently sold short.
Who does Romeo Power supply batteries to?
Under the agreement, LG Energy has committed to supplying cells to Romeo Power that equal 8 GWh of energy through 2028. Romeo Power expects to use the allocated cells to manufacture battery packs for approximately 29,000 electric vehicles sold or operated by its customers.
How many employees does Romeo Power have?
Company Growth (employees)
|Employees (est.) (Feb 2021)||151||(+6%)|
|Revenue (FY, 2020)||$9 M|
|Share Price (Sept 2021)||$5.5||(+10%)|
Is Romeo power a buy?
Romeo Power has received a consensus rating of Hold. The company’s average rating score is 2.25, and is based on 2 buy ratings, 1 hold rating, and 1 sell rating.
Who owns Romeo power?
Vernon-based battery maker Romeo Power Inc. has named Susan Brennan, a veteran of the renewable energy and auto industries, as chief executive and president, the company announced Aug.
Why is RMO going down?
RMO stock is dropping. 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.
What are the financial projections for Romeo power?
Competition will be stiff. And while Romeo’s projections for 2025 look grand, its expectations for 2020 are far more muted. The company expects revenue of $11 million, with negative gross profit. Romeo Power does expect losses until 2023.
Which is the best stock to invest in Romeo power?
At Walletinvestor.com we predict future values with technical analysis for wide selection of stocks like Romeo Power, Inc (RMO). If you are looking for stocks with good return, Romeo Power, Inc can be a profitable investment option. Romeo Power, Inc quote is equal to 7.160 USD at 2021-07-13.
Who are the customers of Romeo power batteries?
Romeo Power is building batteries for those vehicles, rather than trying to repurpose packs designed for cars. And the company already has had some success. Customers include a number of Class 8 trucks (i.e., semis) manufacturers.