The stock of Workhorse Group Inc. (NASDAQ:WKHS) decreased by -$0.04 on Monday to finish at $0.86, down -4.50 percent. The last five days have seen an average of 9,315,340 shares of common stock traded. 12 times new highs were reached in the current year, with a fall of -$0.6620. The average number of shares traded over the last 20 days was 7,760,915, while the average volume over the last 50 days totaled 10,633,890.
WKHS stock dropped -13.27% since last month. On 08/14/23, the company’s shares reached a one-month low of $0.8501. The stock touched a high of $4.44 on 02/03/23, after rallying from a low of $0.71 in 52 weeks. The price of WKHS stock has declined by -43.55% or -$0.6620 this year, reaching a new high 12 times. Still, the stock price is down -80.68% from the 52-week high.
Insider Transactions
WKHS stock investors should be aware that Workhorse Group Inc. (WKHS) stock had its last reported insider trading activity 244 days ago on Dec 14. On Dec 14, VP, Business Development March Stanley Raymond acquired 24,000 shares at $1.88 each. This transaction resulted in the insider spending $45,120. On Dec 13, March Stanley Raymond added 1,000 shares at a price of US$1.90. After the transaction, the insider now owns 43,000 shares. Director CLARK MICHAEL L. had earlier sold 39,823 shares on Dec 12 for $1.85 a share. The transaction was completed for $73,673.
Valuation Metrics
Beta for the stock is 2.89. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 29.82, the price-to-book (PB) ratio of 1.36.
Financial Health
For the three months ended June 29, Workhorse Group Inc.’s quick ratio was 1.70, while its current ratio was 2.00, indicating its ability to pay off its debt. Based on annual data, it had gross profit of -$32.65 million and revenue of $5.02 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. WKHS’s return on assets (ROA) during the last 12 months has been -62.00%. There was a -115.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -92.30%.
Earnings Surprise
According to Workhorse Group Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.69 million, while revenues rose by 99.41% to $3.45 million. It was predicted that Workhorse Group Inc.’s quarterly earnings would be -$0.12, but it ended up being -$0.15. EBITDA was -$24.91 million for the quarter. At the end of Workhorse Group Inc.’s most recent quarter ended June 29, its liabilities totaled 76.56 million, while its total debt was $9.56 million. Equity owned by shareholders amounts to $184.96 million.
Technical Picture
Here’s a quick look at Workhorse Group Inc.’s (WKHS) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 27.76%, suggesting the stock is oversold, with a 43.41% historical volatility rate.
The stochastic %K and %D were 1.74% and 6.54% respectively, while the average true range (ATR) was 0.1027. Based on the 14-day stochastic reading of 1.55%, the RSI (14) reading is 36.17%. On the 9-day MACD Oscillator, the stock is at -0.1670, and the 14-day reading is at -0.2098.
Analyst Ratings
Workhorse Group Inc. (NASDAQ: WKHS) was downgraded by ROTH Capital to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned Workhorse Group Inc. (WKHS) an Overweight rating. WKHS is a stock that is recommended for selling by 0 brokerage firms, while 4 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 3 others recommend it as a buy.
What is WKHS’s price target for the next 12 months?
The current consensus forecast for the stock is between $1.00 and $4.00, with a median target price of $2.25. In analyzing these forecasts, the average price target given by analysts for Workhorse Group Inc. (WKHS) is $2.33.
