NU Ride Inc (NRDE)

[Saving Grace]

Nu Ride Inc. director acquires over $1.2m in company stock

Nu Ride Inc. (NASDAQ:NRDE), previously known as Lordstown Motors (OTC:NRDE) Corp., has seen significant purchasing activity from one of its directors, Andrew L. Sole. According to recent filings, Sole has acquired a substantial number of shares valued at over $1.2 million, indicating a strong vote of confidence in the motor vehicle company's future prospects.

Over a series of transactions, Sole purchased a total of 543,566 shares of Nu Ride Inc. common stock. The purchases occurred on three separate dates, with the prices per share ranging from $2.2474 to $2.3023. On March 14, 2024, Sole bought 52,603 shares at $2.2474 each. The following day, he added another 225,000 shares to his holdings, paying $2.3023 per share. The buying spree concluded on March 18, with Sole acquiring 264,963 shares at a price of $2.2987 each.

The total amount spent on these transactions amounted to $1,245,307, reflecting a notable investment by the director into the company. It's worth mentioning that these shares are held indirectly by Esopus Creek Value Series Fund LP - Series A, with Sole's pecuniary interest in the securities being the extent of his ownership claim, as per the footnotes in the filing.

This financial move by a key insider often garners the attention of investors, as it may signal insider beliefs about the company's valuation and future performance. Nu Ride Inc., with its focus on the automotive industry, particularly in the manufacturing of passenger car bodies, is at the forefront of a dynamic and evolving sector.

Investors and market watchers alike will be keeping a close eye on Nu Ride Inc. to see how this insider activity might align with the company's strategic direction and performance in the coming quarters.

InvestingPro Insights

Nu Ride Inc. (NASDAQ:NRDE) has captured the market's attention not only through insider buying activity but also through its intriguing financial metrics and analyst expectations. A key point to note from InvestingPro Tips is that analysts are forecasting sales growth for the current year, which could signal a positive outlook for the company's revenue trajectory. This aligns with the recent insider purchases, potentially indicating a belief in the company's growth potential. Additionally, despite the company's significant revenue growth over the last twelve months, Nu Ride Inc. is not expected to be profitable this year, which investors should consider when evaluating the company's near-term financial health.

Looking at the real-time metrics from InvestingPro, Nu Ride Inc. has a market capitalization of 30.58 million USD, which places it in the smaller spectrum of publicly traded companies. The company's Price to Book ratio as of the last twelve months stands at 2.07, which can offer insights into how the market values the company's net assets. The substantial revenue growth of 1106.19% over the last twelve months is particularly eye-catching, although it's important to reconcile this with the company's gross profit margin of -3812.39%, which indicates challenges in maintaining profitability.

For those interested in a deeper dive into Nu Ride Inc., there are additional InvestingPro Tips available that could provide further insights into the company's financial health and market performance. Remember to use coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, where you can access a total of 16 additional tips for a comprehensive investment analysis.

https://www.investing.com/news/company-news/nu-ride-inc-director-acquires-over-12m-in-company-stock-93CH-3360747

The writing is on the wall. $NRDE to win largest lawsuit ever recorded. Insiders prepare for massive growth.









https://www.investing.com/news/company-news/nu-ride-inc-director-acquires-over-12m-in-company-stock-93CH-3360747

Foxconn aka Hon Hai Technology Group soon to lose Largest Lawsuit in stock market history against NU Ride Inc. formerly known as Lordsown Motors.

https://www.investing.com/news/company-news/nu-ride-inc-director-acquires-over-12m-in-company-stock-93CH-3360747