Workhorse Group Inc. [NASDAQ: WKHS] loss -7.37% on the last trading session, reaching $25.57 price per share at the time. The company report on January 4, 2021 that Workhorse Receives Purchase Order from Pride Group Enterprises for 6,320 C-Series All-Electric Delivery Vehicles.
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 received a purchase order for 6,320 C-Series all-electric delivery vehicles from Pride Group Enterprises (“Pride”), a premier Canadian and U.S. based, privately held company with businesses in transportation equipment retail, wholesale, rental, leasing and logistics. The order is split between Workhorse’s C-1000 and C-650 models and is subject to various production and delivery conditions.
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Inventory financing is being provided by Hitachi Capital America (“Hitachi Capital America” or “HCA”) as part of the Company’s previously announced strategic partnership with HCA. Initial delivery of the vehicles may begin by July 2021 and will run through 2026. The delivered vehicles will be distributed through Pride dealerships for fleet use.
Workhorse Group Inc. represents 120.53 million in outstanding shares, while the company has a total market value of $3.33 billion with the latest information. WKHS stock price has been found in the range of $24.90 to $27.99.
If compared to the average trading volume of 17.84M shares, WKHS reached a trading volume of 21201620 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $24.00 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 2.10. 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.
Wolfe Research have made an estimate for Workhorse Group Inc. shares, keeping their opinion on the stock as Peer Perform, with their previous recommendation back on December 10, 2020. The new note on the price target was released on November 16, 2020, representing the official price target for Workhorse Group Inc. stock. Previously, the target price had yet another drop from $33 to $27, while ROTH Capital kept a Neutral rating on WKHS stock.
The Average True Range (ATR) for Workhorse Group Inc. is set at 2.12, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 4752.17.
Trading performance analysis for WKHS stock
Workhorse Group Inc. [WKHS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 29.25. With this latest performance, WKHS shares gained by 19.69% in over the last four-week period, additionally plugging by 68.41% over the last 6 months – not to mention a rise of 637.81% 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 59.27, with the RSI for the last a single of trading hit 62.09, and the three-weeks RSI is set at 57.16 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 21.60, while it was recorded at 24.13 for the last single week of trading, and 14.81 for the last 200 days.
Workhorse Group Inc. [WKHS]: A deeper dive into fundamental analysis
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 0.70 and a Current Ratio set at 0.80.
Workhorse Group Inc. [WKHS]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Workhorse Group Inc. posted -0.24/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 -140.00%. 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.
An analysis of insider ownership at Workhorse Group Inc. [WKHS]
There are presently around $1,013 million, or 33.20% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: BLACKROCK INC. with ownership of 6,213,256, which is approximately 47.51% of the company’s market cap and around 2.10% of the total institutional ownership; VANGUARD GROUP INC, holding 4,205,129 shares of the stock with an approximate value of $107.5 million in WKHS stocks shares; and SEAPORT GLOBAL ASSET MANAGEMENT LLC, currently with $100.64 million in WKHS stock with ownership of nearly New of the company’s market capitalization.
Positions in Workhorse Group Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 148 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 21,806,989 shares. Additionally, 58 investors decreased positions by around 4,617,643 shares, while 12 investors held positions by with 13,218,159 shares. The mentioned changes placed institutional holdings at 39,642,791 shares, according to the latest SEC report filing. WKHS stock had 88 new institutional investments in for a total of 11,449,698 shares, while 19 institutional investors sold positions of 1,407,916 shares during the same period.