ROTH Capital slashes price target on Workhorse Group Inc. [WKHS] – find out why.

Workhorse Group Inc. [NASDAQ: WKHS] stock went on a downward path that fall over -2.71% on Thursday, amounting to a one-week price decrease of less than -6.18%. The company report on October 14, 2020 that Workhorse Receives Additional Executive Order From the California Air Resources Board for its C-1000 Extended Range Electric Truck.

Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, today announced that its 2020 C-1000 Extended Range delivery truck has received Executive Order: A-445-003-1 from the California Air Resources Board (“CARB”), designating this model as a zero-emission vehicle in the state of California. This award follows the Company’s prior award for its standard configurations, which was previously announced in July.

Under Section 177 of the Clean Air Act, California as well as 13 other states have adopted vehicle standards which require additional approvals beyond EPA regulations. The Executive Order permits Workhorse to sell its C-1000 Extended Range electric delivery van in every state throughout the U.S.

Over the last 12 months, WKHS stock rose by 517.73%. The one-year Workhorse Group Inc. stock forecast points to a potential upside of 12.55. The average equity rating for WKHS stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.08 billion, with 105.14 million shares outstanding and 96.00 million shares in the current float. Compared to the average trading volume of 23.14M shares, WKHS stock reached a trading volume of 17228598 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Workhorse Group Inc. [WKHS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for WKHS shares is $25.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on WKHS stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

ROTH Capital have made an estimate for Workhorse Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on October 13, 2020. While these analysts kept the previous recommendation, Oppenheimer raised their target price to Outperform. The new note on the price target was released on September 03, 2020, representing the official price target for Workhorse Group Inc. stock. Previously, the target price had yet another raise from $12 to $27, while ROTH Capital kept a Buy rating on WKHS stock.

The Average True Range (ATR) for Workhorse Group Inc. is set at 2.69, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 10408.52.

WKHS Stock Performance Analysis:

Workhorse Group Inc. [WKHS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.18. With this latest performance, WKHS shares dropped by -16.85% in over the last four-week period, additionally plugging by 886.73% over the last 6 months – not to mention a rise of 517.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for WKHS stock in for the last two-week period is set at 45.73, with the RSI for the last a single of trading hit 40.29, and the three-weeks RSI is set at 49.03 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 21.45, while it was recorded at 24.44 for the last single week of trading, and 9.46 for the last 200 days.

Insight into Workhorse Group Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Workhorse Group Inc. [WKHS] shares currently have an operating margin of -6338.12 and a Gross Margin at -1452.17. Workhorse Group Inc.’s Net Margin is presently recorded at -9868.98.

Additionally, WKHS Total Debt to Total Capital is recorded at 250.17, with Total Debt to Total Assets ending up at 114.78.

Reflecting on the efficiency of the workforce at the company, Workhorse Group Inc. [WKHS] managed to generate an average of -$458,800 per employee. Receivables Turnover for the company is 8.43 with a Total Asset Turnover recorded at a value of 0.01.Workhorse Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.

WKHS Stock EPS

With the latest financial reports released by the company, Workhorse Group Inc. posted -0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -70.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for WKHS.

Workhorse Group Inc. [WKHS] Insider Position Details

There are presently around $508 million, or 24.80% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: BLACKROCK INC. with ownership of 4,212,103, which is approximately 265.556% of the company’s market cap and around 4.20% of the total institutional ownership; VANGUARD GROUP INC, holding 2,604,892 shares of the stock with an approximate value of $58.09 million in WKHS stocks shares; and STATE STREET CORP, currently with $37.45 million in WKHS stock with ownership of nearly 146.106% of the company’s market capitalization.

Positions in Workhorse Group Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 107 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 12,071,072 shares. Additionally, 38 investors decreased positions by around 5,145,655 shares, while 9 investors held positions by with 5,554,652 shares. The mentioned changes placed institutional holdings at 22,771,379 shares, according to the latest SEC report filing. WKHS stock had 79 new institutional investments in for a total of 4,791,590 shares, while 21 institutional investors sold positions of 3,625,815 shares during the same period.

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