Market Analysts see Workhorse Group Inc. [WKHS] falling to $27. Time to buy?

Workhorse Group Inc. [NASDAQ: WKHS] traded at a high on 11/02/20, posting a 4.10 gain after which it closed the day’ session at $16.01. The company report on October 28, 2020 that Workhorse Group Submits Formal Application to the FAA for Type Certification of its HorseFly™ Delivery Drone.

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, announced that it has submitted its formal “Type Certification” application to the Federal Aviation Administration (“FAA”) for its HorseFlyTM Unmanned Aerial System (“UAS”). A type certificate signifies the airworthiness of a particular category of aircraft according to its manufacturing design. From application to approval, the certification process takes approximately 12 to 24 months.

The HorseFly UAS has been designed to meet the FAA’s stringent standards for commercial drone operations and includes a safe, reliable, multi-use aircraft that can deliver parcels, carry sensors and cameras and operate autonomously with a high degree of precision. The system’s success has been validated through real-world commercial deliveries, including approximately 80% of most commercial package sizes, shapes, and weights, having demonstrated the ability to carry a ten-pound payload up to 10 miles. The aircraft’s flexible design allows users to operate select, patent-pending delivery methods, including air drops, winch deliveries from various altitudes and ground deliveries. Its quick-change battery system also effectively reduces ground time between missions. The aircraft’s durable structure supports superior levels of reliability in the high-utilization, demanding markets of commercial and industrial users.

The results of the trading session contributed to over 10838747 shares changing hands. Over the past one week, the price volatility of Workhorse Group Inc. stands at 9.27% while the volatility over the past one month is 9.03%.

The market cap for WKHS stock reached $1.89 billion, with 120.03 million shares outstanding and 96.09 million shares in the current float. Compared to the average trading volume of 23.45M shares, WKHS reached a trading volume of 10838747 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 2.00. 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 1.99, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 9450.70.

How has WKHS stock performed recently?

Workhorse Group Inc. [WKHS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.60. With this latest performance, WKHS shares dropped by -32.22% in over the last four-week period, additionally plugging by 401.88% over the last 6 months – not to mention a rise of 484.31% 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 36.81, with the RSI for the last a single of trading hit 29.08, and the three-weeks RSI is set at 39.05 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 22.17, while it was recorded at 16.53 for the last single week of trading, and 10.39 for the last 200 days.

Workhorse Group Inc. [WKHS]: Deeper insight into the fundamentals

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.

Earnings analysis for Workhorse Group Inc. [WKHS]

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.

Insider trade positions for Workhorse Group Inc. [WKHS]

There are presently around $367 million, or 25.70% 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 4.10% of the total institutional ownership; VANGUARD GROUP INC, holding 2,604,892 shares of the stock with an approximate value of $40.06 million in WKHS stocks shares; and STATE STREET CORP, currently with $25.83 million in WKHS stock with ownership of nearly 146.106% of the company’s market capitalization.

125 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 12,959,246 shares. Additionally, 42 investors decreased positions by around 5,261,819 shares, while 8 investors held positions by with 5,670,781 shares. The mentioned changes placed institutional holdings at 23,891,846 shares, according to the latest SEC report filing. WKHS stock had 92 new institutional investments in for a total of 4,953,307 shares, while 23 institutional investors sold positions of 3,644,415 shares during the same period.

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