Workhorse Group Inc (NASDAQ:WKHS) saw an upside of 5.00% to close Monday at $0.45 after adding $0.02 on the day. The 5-day average trading volume is 21,866,539 shares of the company’s common stock. It has gained $0.5793 in the past week and touched a new high 1 time within the past 5 days. An average of 15,351,475 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 10,641,156.
WKHS’s 1-month performance is -38.33% or -$0.2881 on its low of $0.3891 reached on 09/25/23. The company’s shares have touched a 52-week low of $0.40 and high of $3.05, with the stock’s rally to the 52-week high happening on 02/03/23. YTD, WKHS has lost -70.18% or -$1.0667 and has reached a new high 12 times. However, the current price is down -85.14% from the 52-week high price.
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Insider Transactions
WKHS stock investors last saw insider trading activity on Dec 14.CLARK MICHAEL L. (Director) most recently sold 39,823 shares at $1.85 per share on Dec 12. This transaction cost the insider $73,673. Director, DeMott Harry, sold 27,871 shares at a price of $2.43 on Nov 18.
Valuation Metrics
WKHS stock has a beta of 3.01. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 8.96 while the price-to-book (PB) in the most recent quarter is 0.87.
Workhorse Group Inc’s quick ratio for the period ended June 29 was 1.54, with the current ratio over the same period at 2.14. As well, the company’s long term debt to equity for the quarter ending June 29 was 0.08, while the total debt to equity was 0.09. In terms of profitability, the gross margin trailing 12 months is -317.45%. The trailing 12-month EBITDA margin is -2111.16% while for the period ending June 29, Workhorse Group Inc’s operating margin was -1100.40%. The firm’s gross profit as reported stood at -$32.65 million against revenue of $5.02 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 8.08% to -$23.02 million, while revenue of -$25.0 million was -8.6% off the previous quarter. Analysts expected WKHS to announce -$0.15 per share in earnings in its latest quarter, but it posted -$0.12, representing a 20.00% surprise. EBITDA for the quarter stood at more than -$22.78 million. WKHS stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 69.54 million, with total debt at $9.56 million. Shareholders hold equity totaling $210.79 million.
Let’s look briefly at Workhorse Group Inc (WKHS) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 25 September was 20.26% to suggest the stock is trending oversold, with historical volatility in this time period at 80.36%.
The stock’s 5-day moving average is $0.4849, reflecting a -20.04% or -$0.1136 change from its current price. WKHS is currently trading -38.86% above its 20-day SMA, -58.41% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -54.18% and SMA200 by-78.31%.
Stochastic %K and %D was 10.30% and 6.00% and the average true range (ATR) pointed at 0.0644. The RSI (14) points at 24.33%, while the 14-day stochastic is at 17.08% with the period’s ATR at 0.0675. The stock’s 9-day MACD Oscillator is pointing at -0.0849 and -0.1156 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Workhorse Group Inc (NASDAQ: WKHS), ROTH Capital downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for WKHS stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate WKHS as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 3 have offered a “buy” rating.
What is WKHS’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $1.00 and a high of $4.00, with their median price target at $2.25. Looking at these predictions, the average price target given by analysts is for Workhorse Group Inc (WKHS) stock is $2.33.
