Workhorse Group Inc. [WKHS] stock Downgrade by Cowen analyst, price target now $13

Workhorse Group Inc. [NASDAQ: WKHS] closed the trading session at $11.01 on 07/27/21. The day’s price range saw the stock hit a low of $10.82, while the highest price level was $11.40. The company report on June 17, 2021 that Workhorse Files Formal Complaint Regarding USPS NGDV Contract.

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 filed a formal complaint with the United States Federal Court of Claims protesting the award of the United States Postal Service Next Generation Delivery Vehicle (“USPS NGDV”) contract to a competing finalist.

As previously disclosed, on February 23, 2021 the USPS issued a press release announcing that it had made an award under the NGDV contract, the details of which can be found here. After being informed of the USPS decision, the Company requested, pursuant to the bid process rules, additional information from the USPS. On March 3, 2021 Workhorse met with USPS representatives to discuss the award and further specifics of the USPS selection process, the details of which cannot be disclosed at this time.

The stocks have a year to date performance of -44.34 percent and weekly performance of -2.65 percent. The stock has been moved at -65.79 percent over the last six months. The stock has performed -29.47 percent around the most recent 30 days and changed -15.31 percent over the most recent 3-months.

If compared to the average trading volume of 18.86M shares, WKHS reached to a volume of 5365699 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $12.70 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 2.60. 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.

Cowen have made an estimate for Workhorse Group Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on June 04, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on April 16, 2021, representing the official price target for Workhorse Group Inc. stock.

The Average True Range (ATR) for Workhorse Group Inc. is set at 1.02, with the Price to Sales ratio for WKHS stock in the period of the last 12 months amounting to 783.24. The Price to Book ratio for the last quarter was 4.89, with the Price to Cash per share for the same quarter was set at 3.12.

WKHS stock trade performance evaluation

Workhorse Group Inc. [WKHS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.65. With this latest performance, WKHS shares dropped by -29.47% in over the last four-week period, additionally sinking by -65.79% over the last 6 months – not to mention a drop of -30.01% 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 39.21, with the RSI for the last a single of trading hit 35.80, and the three-weeks RSI is set at 42.22 for Workhorse Group Inc. [WKHS]. The present Moving Average for the last 50 days of trading for this stock 12.68, while it was recorded at 11.21 for the last single week of trading, and 18.50 for the last 200 days.

Workhorse Group Inc. [WKHS]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Workhorse Group Inc. [WKHS] shares currently have an operating margin of -2942.95 and a Gross Margin at -838.38. Workhorse Group Inc.’s Net Margin is presently recorded at +5010.81.

Return on Total Capital for WKHS is now -13.27, given the latest momentum, and Return on Invested Capital for the company is 23.39. Return on Equity for this stock inclined to 38.73, with Return on Assets sitting at 20.43. When it comes to the capital structure of this company, Workhorse Group Inc. [WKHS] has a Total Debt to Total Equity ratio set at 50.38. Additionally, WKHS Total Debt to Total Capital is recorded at 33.50, with Total Debt to Total Assets ending up at 31.48. Long-Term Debt to Equity for the company is recorded at 50.02, with the Long-Term Debt to Total Capital now at 33.27.

Reflecting on the efficiency of the workforce at the company, Workhorse Group Inc. [WKHS] managed to generate an average of $536,742 per employee. Receivables Turnover for the company is 2.58 with a Total Asset Turnover recorded at a value of 0.00.Workhorse Group Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 24.90 and a Current Ratio set at 26.60.

Workhorse Group Inc. [WKHS]: Insider Ownership positions

There are presently around $576 million, or 44.20% of WKHS stock, in the hands of institutional investors. The top three institutional holders of WKHS stocks are: BLACKROCK INC. with ownership of 7,451,966, which is approximately 5% of the company’s market cap and around 1.70% of the total institutional ownership; VANGUARD GROUP INC, holding 5,291,143 shares of the stock with an approximate value of $58.26 million in WKHS stocks shares; and ARK INVESTMENT MANAGEMENT LLC, currently with $44.03 million in WKHS stock with ownership of nearly 116.393% of the company’s market capitalization.

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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 144 institutional holders increased their position in Workhorse Group Inc. [NASDAQ:WKHS] by around 15,430,844 shares. Additionally, 111 investors decreased positions by around 15,459,131 shares, while 42 investors held positions by with 21,459,776 shares. The mentioned changes placed institutional holdings at 52,349,751 shares, according to the latest SEC report filing. WKHS stock had 56 new institutional investments in for a total of 5,256,083 shares, while 43 institutional investors sold positions of 3,856,975 shares during the same period.

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