Workhorse Group Inc. (NASDAQ:WKHS) finished Thursday with a subtraction of -$0.04 to close at $0.74, a downside of -6.25 percent. An average of 6,770,740 shares of common stock have been traded in the last five days. There was a fall of -$0.0453 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 7,738,500 shares traded, while the 50-day average volume stands at 10,647,800.
WKHS stock has decreased by -35.24% in the last month. The company shares reached their 1-month lowest point of $0.7150 on 08/24/23. With the stock rallying to its 52-week high on 02/03/23, shares of the company touched a low of $0.71 and a high of $3.60 in 52 weeks. It has reached a new high 12 times so far this year and lost -51.64% or -$0.7850 in price. In spite of this, the price is down -79.58% from the 52-week high.
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Insider Transactions
WKHS stock investors should be aware that Workhorse Group Inc. (WKHS) stock had its last reported insider trading activity 256 days ago on Dec 14. In this transaction, the insider spent $73,673. Director, DeMott Harry, disposed of 27,871 shares at a price of $2.43 on Nov 18. The insider now owns more than $67,754 worth of shares.
Valuation Metrics
Workhorse Group Inc. (WKHS) stock’s beta is 2.92. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 14.32, the price-to-book (PB) ratio at 1.27.
Financial Health
The quick ratio of Workhorse Group Inc. for the three months ended June 29 was 1.50, and the current ratio was 2.10, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending June 29. Workhorse Group Inc.’s EBITDA margin for the year ending June 29 is -2111.16%. Its gross profit as reported stood at -$32.65 million compared to revenue of $5.02 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Workhorse Group Inc.’s return on assets was -65.70%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$23.02 million in the quarter, while revenues were grew 8.08%. The analyst consensus anticipated Workhorse Group Inc.’s latest quarter earnings to come in at -$0.15 per share, but it turned out to be -$0.12, a 20.00% surprise. For the quarter, EBITDA amounted to -$22.78 million. Shareholders own equity worth $210.79 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Workhorse Group Inc. (WKHS) price momentum. RSI 9-day as of the close on 24 August was 26.38%, suggesting the stock is oversold, with historical volatility in this time frame at 47.60%.
As of today, WKHS’s price is $0.7715 -5.81% or -$0.0453 from its 5-day moving average. WKHS is currently trading -31.94% lower than its 20-day SMA and -44.74% lower than its 100-day SMA. However, the stock’s current price level is -20.97% below the SMA50 and -73.18% below the SMA200.
The stochastic %K and %D were 5.05% and 6.22%, respectively, and the average true range (ATR) was 0.0785. With the 14-day stochastic at 4.04% and the average true range at 0.0854, the RSI (14) stands at 32.71%. The stock has reached -0.0337 on the 9-day MACD Oscillator while the 14-day reading was at -0.1228.
Analyst Ratings
ROTH Capital downgraded Workhorse Group Inc. (NASDAQ: WKHS) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for Workhorse Group Inc. (WKHS) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell WKHS, while 4 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 3 others rate it as a “buy”.
What is WKHS’s price target for the next 12 months?
Analysts predict a range of price targets between $1.00 and $4.00, with a median target of $2.25. Taking a look at these predictions, the average price target given by analysts for Workhorse Group Inc. (WKHS) stock is $2.33.
