Workhorse Group Inc. [NASDAQ: WKHS] loss -14.31% on the last trading session, reaching $16.17 price per share at the time. The company report on February 26, 2021 that INVESTIGATION REMINDER: The Schall Law Firm Announces It Is Investigating Claims Against Workhorse Group Inc. and Encourages Investors with Losses of $100,000 to Contact the Firm.
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Workhorse Group Inc. (“Workhorse” or “the Company”) (NASDAQ: WKHS) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Workhorse submitted a bid for the United States Postal Service’s “next generation delivery vehicle” (NGDV) before the July 14, 2020, deadline. In a July 21, 2020 Benzinga article, Workhorse CFO Steve Schrader provided an update on the USPS contract. According to the article, “Schrader said he can’t discuss too much about the process at this point, but Workhorse is the only all-electric option” and Schrader reportedly stated “[w]hat I will say is our all-electric is probably the perfect vehicle for them.” On February 23, 2021, the USPS awarded the NGDV contract to Oshkosh Defense, which will produce vehicles that according to the USPS will “be equipped with either fuel-efficient internal combustion engines or battery electric powertrains and can be retrofitted to keep pace with advances in electric vehicle technologies.” Based on this news, shares of Workhorse fell by more than 47% on February 23, 2021.
Workhorse Group Inc. represents 120.53 million in outstanding shares, while the company has a total market value of $2.27 billion with the latest information. WKHS stock price has been found in the range of $15.70 to $17.82.
If compared to the average trading volume of 18.92M shares, WKHS reached a trading volume of 39159596 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 $19.40 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 2.40. 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.
Oppenheimer have made an estimate for Workhorse Group Inc. shares, keeping their opinion on the stock as Perform, with their previous recommendation back on February 24, 2021. The new note on the price target was released on December 10, 2020, representing the official price target for Workhorse Group Inc. stock. On October 13, 2020, analysts decreased their price target for WKHS shares from 33 to 27.
The Average True Range (ATR) for Workhorse Group Inc. is set at 4.50, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 3249.25.
Trading performance analysis for WKHS stock
Workhorse Group Inc. [WKHS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -50.94. With this latest performance, WKHS shares dropped by -53.53% in over the last four-week period, additionally sinking by -7.23% over the last 6 months – not to mention a rise of 418.27% 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 32.33, with the RSI for the last a single of trading hit 26.97, and the three-weeks RSI is set at 36.59 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 27.33, while it was recorded at 19.60 for the last single week of trading, and 19.37 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 $759 million, or 39.30% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: BLACKROCK INC. with ownership of 7,097,121, which is approximately 14.225% of the company’s market cap and around 2.60% of the total institutional ownership; VANGUARD GROUP INC, holding 5,231,801 shares of the stock with an approximate value of $84.6 million in WKHS stocks shares; and SEAPORT GLOBAL ASSET MANAGEMENT LLC, currently with $62.36 million in WKHS stock with ownership of nearly -2.032% 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 155 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 13,924,076 shares. Additionally, 74 investors decreased positions by around 6,558,016 shares, while 38 investors held positions by with 26,454,212 shares. The mentioned changes placed institutional holdings at 46,936,304 shares, according to the latest SEC report filing. WKHS stock had 73 new institutional investments in for a total of 3,075,078 shares, while 36 institutional investors sold positions of 987,875 shares during the same period.