UPDATE: R.F. Lafferty Downgrades Lordstown Motors (RIDE) to Sell (correction)

R.F. Lafferty analyst Jaime Perez downgraded Lordstown Motors (NASDAQ: RIDE) from Hold to Sell with a price target of $1.00 (from $4.00).

The analyst comments "We are reducing our rating for the company to Sell from Hold due to the potential shareholder dilution from issuing more equity or the possibility of the reduction of equity value from raising debt. Secondly, we think the equity and debt market may not have the appetite for high-risk offering from de-SPAC companies in this current market environment."

For an analyst ratings summary and ratings history on Lordstown Motors click here. For more ratings news on Lordstown Motors click here.

Shares of Lordstown Motors closed at $1.79 yesterday.

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