As of Thursday close, Workhorse Group Inc.’s (NASDAQ:WKHS) stock traded at $0.79. The average number of shares traded per day over the past five days has been 5,381,980 shares. 4 times new highs have been achieved over the past 5 days, with a $0.0532 gain in that time frame. In the last twenty days, the average volume was 7,109,105, while in the previous 50 days, it was 9,578,778.
Since last month, WKHS stock retreated -35.92%. Shares of the company fell to $0.7150 on 08/24/23, the lowest level in the past month. A 52-week high of $3.43 was reached on 02/03/23 after having rallying from a 52-week low of $0.71. Since the beginning of this year, WKHS’s stock price has dropped by -48.14% or -$0.7318, and marked a new high 12 times. However, the stock has declined by -77.02% since its 52-week high.
WKHS stock investors should be aware that Workhorse Group Inc. (WKHS) stock had its last reported insider trading activity 261 days ago on Dec 14. March Stanley Raymond, the VP, Business Development of the company, purchased of 24,000 shares for $1.88 on Dec 14. It resulted in a $45,120 investment by the insider. March Stanley Raymond added 1,000 shares at an average price of $1.90 on Dec 13. The insider now owns 43,000 shares following the transaction. On Dec 12, Director CLARK MICHAEL L. sold 39,823 shares at $1.85 apiece. The transaction was valued at $73,673.
Valuation Metrics
The stock’s beta is 2.88. Besides these, the trailing price-to-sales (P/S) ratio of 15.40, the price-to-book (PB) ratio of 1.36.
Financial Health
In the three months ended June 29, Workhorse Group Inc.’s quick ratio stood at 1.50, while its current ratio was 2.10, showing that the company is able to pay off its debt. Based on annual data, WKHS earned -$32.65 million in gross profit and brought in $5.02 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -115.60%. Return on equity (ROE) for the past 12 months was -108.00%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. WKHS’s revenue rose 99.72% to $1.69 million during the quarter, while net income inched up to $3.54 million. While analysts expected Workhorse Group Inc. to report -$0.15 quarterly earnings, the actual figure was -$0.12 per share. During the quarter, the company generated -$22.78 million in EBITDA. The liabilities of Workhorse Group Inc. were 69.54 million at the end of its most recent quarter ended June 29, and its total debt was $9.56 million. The value of shareholders’ equity is $210.79 million.
Technical Picture
This quick technical analysis looks at Workhorse Group Inc.’s (WKHS) price momentum. With a historical volatility rate of 65.25%, the RSI 9-day stood at 38.37% on 31 August.
With respect to its five-day moving average, the current Workhorse Group Inc. price is up by +7.24% percent or $0.0532. At present, WKHS shares trade -37.94% below its 20-day simple moving average and -28.99% percent below its 100-day simple moving average. However, the stock is currently trading approximately -14.97% below its SMA50 and -71.95% below its SMA200.
Stochastic coefficient K was 32.39% and Stochastic coefficient D was 24.30%, while ATR was 0.0682. Given the Stochastic reading of 41.83% for the 14-day period, the RSI (14) reading has been calculated as 39.06%. As of today, the MACD Oscillator reading stands at 0.0199.
Analyst Ratings
Workhorse Group Inc. downgraded its rating on Workhorse Group Inc. (NASDAQ: WKHS) to a Neutral in a note to investors on August 09, 2022. The analysts firm previously had a Buy rating on the stock.Workhorse Group Inc. (WKHS) has been rated Overweight by analysts. According to 0 brokerage firms, WKHS is a sell, and 4 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Workhorse Group Inc. stock as buy, with 3 recommending it as overweight.
With a median target price of $2.25, the current consensus forecast for the stock is $1.00 – $4.00. Based on these forecasts, analysts predict Workhorse Group Inc. (WKHS) will achieve an average price target of $2.33.
